Correlation Between PTT Exploration and Bangkok Dusit
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By analyzing existing cross correlation between PTT Exploration and and Bangkok Dusit Medical, you can compare the effects of market volatilities on PTT Exploration and Bangkok Dusit 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 Exploration with a short position of Bangkok Dusit. Check out your portfolio center. Please also check ongoing floating volatility patterns of PTT Exploration and Bangkok Dusit.
Diversification Opportunities for PTT Exploration and Bangkok Dusit
1.0 | Correlation Coefficient |
No risk reduction
The 3 months correlation between PTT and Bangkok is 1.0. Overlapping area represents the amount of risk that can be diversified away by holding PTT Exploration and and Bangkok Dusit Medical in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bangkok Dusit Medical and PTT Exploration 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 Exploration and are associated (or correlated) with Bangkok Dusit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bangkok Dusit Medical has no effect on the direction of PTT Exploration i.e., PTT Exploration and Bangkok Dusit go up and down completely randomly.
Pair Corralation between PTT Exploration and Bangkok Dusit
Assuming the 90 days trading horizon PTT Exploration and is expected to under-perform the Bangkok Dusit. In addition to that, PTT Exploration is 2.86 times more volatile than Bangkok Dusit Medical. It trades about -0.21 of its total potential returns per unit of risk. Bangkok Dusit Medical is currently generating about -0.21 per unit of volatility. If you would invest 2,800 in Bangkok Dusit Medical on August 25, 2024 and sell it today you would lose (150.00) from holding Bangkok Dusit Medical or give up 5.36% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
PTT Exploration and vs. Bangkok Dusit Medical
Performance |
| Timeline |
| PTT Exploration |
| Bangkok Dusit Medical |
PTT Exploration and Bangkok Dusit Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PTT Exploration and Bangkok Dusit
The main advantage of trading using opposite PTT Exploration and Bangkok Dusit positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PTT Exploration position performs unexpectedly, Bangkok Dusit 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 Bangkok Dusit will offset losses from the drop in Bangkok Dusit's long position.| PTT Exploration vs. PTT Public | PTT Exploration vs. CP ALL Public | PTT Exploration vs. Airports of Thailand | PTT Exploration vs. PTT Exploration and |
| Bangkok Dusit vs. CHAOSUA FOODS INDUSTRY | Bangkok Dusit vs. Asia Medical Agricultural | Bangkok Dusit vs. Peerapat Technology Public | Bangkok Dusit vs. Delta Electronics 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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