Correlation Between PTT Exploration and Kasikornbank Public
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By analyzing existing cross correlation between PTT Exploration and and Kasikornbank Public, you can compare the effects of market volatilities on PTT Exploration and Kasikornbank Public 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 Kasikornbank Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of PTT Exploration and Kasikornbank Public.
Diversification Opportunities for PTT Exploration and Kasikornbank Public
0.04 | Correlation Coefficient |
Significant diversification
The 3 months correlation between PTT and Kasikornbank is 0.04. Overlapping area represents the amount of risk that can be diversified away by holding PTT Exploration and and Kasikornbank Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kasikornbank Public 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 Kasikornbank Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kasikornbank Public has no effect on the direction of PTT Exploration i.e., PTT Exploration and Kasikornbank Public go up and down completely randomly.
Pair Corralation between PTT Exploration and Kasikornbank Public
Assuming the 90 days trading horizon PTT Exploration and is expected to generate 53.92 times more return on investment than Kasikornbank Public. However, PTT Exploration is 53.92 times more volatile than Kasikornbank Public. It trades about 0.06 of its potential returns per unit of risk. Kasikornbank Public is currently generating about 0.01 per unit of risk. If you would invest 18,917 in PTT Exploration and on August 28, 2024 and sell it today you would lose (5,967) from holding PTT Exploration and or give up 31.54% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
PTT Exploration and vs. Kasikornbank Public
Performance |
| Timeline |
| PTT Exploration |
| Kasikornbank Public |
PTT Exploration and Kasikornbank Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PTT Exploration and Kasikornbank Public
The main advantage of trading using opposite PTT Exploration and Kasikornbank Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PTT Exploration position performs unexpectedly, Kasikornbank Public 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 Kasikornbank Public will offset losses from the drop in Kasikornbank Public'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 |
| Kasikornbank Public vs. PTT Public | Kasikornbank Public vs. CP ALL Public | Kasikornbank Public vs. SCB X Public | Kasikornbank Public vs. Airports of Thailand |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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