Correlation Between PTT Exploration and Siam Commercial
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By analyzing existing cross correlation between PTT Exploration and and The Siam Commercial, you can compare the effects of market volatilities on PTT Exploration and Siam Commercial 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 Siam Commercial. Check out your portfolio center. Please also check ongoing floating volatility patterns of PTT Exploration and Siam Commercial.
Diversification Opportunities for PTT Exploration and Siam Commercial
0.98 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between PTT and Siam is 0.98. Overlapping area represents the amount of risk that can be diversified away by holding PTT Exploration and and The Siam Commercial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Siam Commercial 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 Siam Commercial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Siam Commercial has no effect on the direction of PTT Exploration i.e., PTT Exploration and Siam Commercial go up and down completely randomly.
Pair Corralation between PTT Exploration and Siam Commercial
Assuming the 90 days trading horizon PTT Exploration is expected to generate 1.01 times less return on investment than Siam Commercial. In addition to that, PTT Exploration is 1.0 times more volatile than The Siam Commercial. It trades about 0.11 of its total potential returns per unit of risk. The Siam Commercial is currently generating about 0.11 per unit of volatility. If you would invest 10,945 in The Siam Commercial on August 31, 2024 and sell it today you would earn a total of 505.00 from holding The Siam Commercial or generate 4.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
PTT Exploration and vs. The Siam Commercial
Performance |
| Timeline |
| PTT Exploration |
| Siam Commercial |
PTT Exploration and Siam Commercial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PTT Exploration and Siam Commercial
The main advantage of trading using opposite PTT Exploration and Siam Commercial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PTT Exploration position performs unexpectedly, Siam Commercial 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 Siam Commercial will offset losses from the drop in Siam Commercial'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 |
| Siam Commercial vs. The Siam Cement | Siam Commercial vs. Krung Thai Bank | Siam Commercial vs. Airports of Thailand | Siam Commercial vs. Kasikornbank 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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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