Correlation Between PTT Exploration and Ticon Freehold
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By analyzing existing cross correlation between PTT Exploration and and Ticon Freehold and, you can compare the effects of market volatilities on PTT Exploration and Ticon Freehold 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 Ticon Freehold. Check out your portfolio center. Please also check ongoing floating volatility patterns of PTT Exploration and Ticon Freehold.
Diversification Opportunities for PTT Exploration and Ticon Freehold
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between PTT and Ticon is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding PTT Exploration and and Ticon Freehold and in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ticon Freehold 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 Ticon Freehold. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ticon Freehold has no effect on the direction of PTT Exploration i.e., PTT Exploration and Ticon Freehold go up and down completely randomly.
Pair Corralation between PTT Exploration and Ticon Freehold
Assuming the 90 days trading horizon PTT Exploration and is expected to generate 1.41 times more return on investment than Ticon Freehold. However, PTT Exploration is 1.41 times more volatile than Ticon Freehold and. It trades about 0.08 of its potential returns per unit of risk. Ticon Freehold and is currently generating about 0.06 per unit of risk. If you would invest 15,471 in PTT Exploration and on August 29, 2024 and sell it today you would lose (2,671) from holding PTT Exploration and or give up 17.26% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
PTT Exploration and vs. Ticon Freehold and
Performance |
| Timeline |
| PTT Exploration |
| Ticon Freehold |
PTT Exploration and Ticon Freehold Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PTT Exploration and Ticon Freehold
The main advantage of trading using opposite PTT Exploration and Ticon Freehold positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PTT Exploration position performs unexpectedly, Ticon Freehold 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 Ticon Freehold will offset losses from the drop in Ticon Freehold'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 |
| Ticon Freehold vs. WHA Premium Growth | Ticon Freehold vs. CPN Retail Growth | Ticon Freehold vs. Impact Growth REIT | Ticon Freehold vs. Golden Ventures Leasehold |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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