Correlation Between PTT Exploration and Ratch Group
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By analyzing existing cross correlation between PTT Exploration and and Ratch Group Public, you can compare the effects of market volatilities on PTT Exploration and Ratch Group 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 Ratch Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of PTT Exploration and Ratch Group.
Diversification Opportunities for PTT Exploration and Ratch Group
-0.03 | Correlation Coefficient |
Good diversification
The 3 months correlation between PTT and Ratch is -0.03. Overlapping area represents the amount of risk that can be diversified away by holding PTT Exploration and and Ratch Group Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ratch Group 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 Ratch Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ratch Group Public has no effect on the direction of PTT Exploration i.e., PTT Exploration and Ratch Group go up and down completely randomly.
Pair Corralation between PTT Exploration and Ratch Group
Assuming the 90 days trading horizon PTT Exploration is expected to generate 1.0 times less return on investment than Ratch Group. In addition to that, PTT Exploration is 1.0 times more volatile than Ratch Group Public. It trades about 0.08 of its total potential returns per unit of risk. Ratch Group Public is currently generating about 0.08 per unit of volatility. If you would invest 3,612 in Ratch Group Public on September 14, 2024 and sell it today you would lose (412.00) from holding Ratch Group Public or give up 11.41% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.59% |
| Values | Daily Returns |
PTT Exploration and vs. Ratch Group Public
Performance |
| Timeline |
| PTT Exploration |
| Ratch Group Public |
PTT Exploration and Ratch Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PTT Exploration and Ratch Group
The main advantage of trading using opposite PTT Exploration and Ratch Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PTT Exploration position performs unexpectedly, Ratch Group 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 Ratch Group will offset losses from the drop in Ratch Group'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 |
| Ratch Group vs. Electricity Generating Public | Ratch Group vs. The Siam Cement | Ratch Group vs. PTT Exploration and | Ratch Group vs. PTT 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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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