Correlation Between PTT Public and Origin Property
Can any of the company-specific risk be diversified away by investing in both PTT Public and Origin Property at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining PTT Public and Origin Property into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between PTT Public and Origin Property PCL, you can compare the effects of market volatilities on PTT Public and Origin Property 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 PTT Public with a short position of Origin Property. Check out your portfolio center. Please also check ongoing floating volatility patterns of PTT Public and Origin Property.
Diversification Opportunities for PTT Public and Origin Property
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between PTT and Origin is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding PTT Public and Origin Property PCL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Origin Property PCL and PTT 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 PTT Public are associated (or correlated) with Origin Property. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Origin Property PCL has no effect on the direction of PTT Public i.e., PTT Public and Origin Property go up and down completely randomly.
Pair Corralation between PTT Public and Origin Property
Assuming the 90 days trading horizon PTT Public is expected to generate 0.52 times more return on investment than Origin Property. However, PTT Public is 1.94 times less risky than Origin Property. It trades about 0.02 of its potential returns per unit of risk. Origin Property PCL is currently generating about -0.09 per unit of risk. If you would invest 2,904 in PTT Public on September 14, 2024 and sell it today you would earn a total of 271.00 from holding PTT Public or generate 9.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 99.79% |
| Values | Daily Returns |
PTT Public vs. Origin Property PCL
Performance |
| Timeline |
| PTT Public |
| Origin Property PCL |
PTT Public and Origin Property Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PTT Public and Origin Property
The main advantage of trading using opposite PTT Public and Origin Property positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PTT Public position performs unexpectedly, Origin Property 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 Origin Property will offset losses from the drop in Origin Property's long position.| PTT Public vs. IRPC Public | PTT Public vs. PTT Oil and | PTT Public vs. Power Solution Technologies | PTT Public vs. Star Petroleum Refining |
| Origin Property vs. Wave Entertainment Public | Origin Property vs. Vibhavadi Medical Center | Origin Property vs. VGI Public | Origin Property vs. WHA Public |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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