Correlation Between Multibax Public and AEON Thana
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By analyzing existing cross correlation between Multibax Public and AEON Thana Sinsap, you can compare the effects of market volatilities on Multibax Public and AEON Thana and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Multibax Public with a short position of AEON Thana. Check out your portfolio center. Please also check ongoing floating volatility patterns of Multibax Public and AEON Thana.
Diversification Opportunities for Multibax Public and AEON Thana
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between Multibax and AEON is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Multibax Public and AEON Thana Sinsap in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AEON Thana Sinsap and Multibax Public is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Multibax Public are associated (or correlated) with AEON Thana. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AEON Thana Sinsap has no effect on the direction of Multibax Public i.e., Multibax Public and AEON Thana go up and down completely randomly.
Pair Corralation between Multibax Public and AEON Thana
If you would invest 16,575 in AEON Thana Sinsap on September 12, 2024 and sell it today you would earn a total of 0.00 from holding AEON Thana Sinsap or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 86.36% |
| Values | Daily Returns |
Multibax Public vs. AEON Thana Sinsap
Performance |
| Timeline |
| Multibax Public |
| AEON Thana Sinsap |
Multibax Public and AEON Thana Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Multibax Public and AEON Thana
The main advantage of trading using opposite Multibax Public and AEON Thana positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Multibax Public position performs unexpectedly, AEON Thana can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in AEON Thana will offset losses from the drop in AEON Thana's long position.| Multibax Public vs. Lease IT Public | Multibax Public vs. MCS Steel Public | Multibax Public vs. Kingsmen CMTI Public | Multibax Public vs. Moong Pattana International |
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Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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