Correlation Between PTT Exploration and VGI Public
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By analyzing existing cross correlation between PTT Exploration and and VGI Public, you can compare the effects of market volatilities on PTT Exploration and VGI 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 VGI Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of PTT Exploration and VGI Public.
Diversification Opportunities for PTT Exploration and VGI Public
1.0 | Correlation Coefficient |
No risk reduction
The 3 months correlation between PTT and VGI is 1.0. Overlapping area represents the amount of risk that can be diversified away by holding PTT Exploration and and VGI Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on VGI 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 VGI Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of VGI Public has no effect on the direction of PTT Exploration i.e., PTT Exploration and VGI Public go up and down completely randomly.
Pair Corralation between PTT Exploration and VGI Public
Assuming the 90 days trading horizon PTT Exploration is expected to generate 1.0 times less return on investment than VGI Public. In addition to that, PTT Exploration is 1.0 times more volatile than VGI Public. It trades about 0.11 of its total potential returns per unit of risk. VGI Public is currently generating about 0.11 per unit of volatility. If you would invest 286.00 in VGI Public on August 28, 2024 and sell it today you would lose (26.00) from holding VGI Public or give up 9.09% 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. VGI Public
Performance |
| Timeline |
| PTT Exploration |
| VGI Public |
PTT Exploration and VGI Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PTT Exploration and VGI Public
The main advantage of trading using opposite PTT Exploration and VGI Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PTT Exploration position performs unexpectedly, VGI 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 VGI Public will offset losses from the drop in VGI 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 |
| VGI Public vs. Delta Electronics Public | VGI Public vs. Delta Electronics Public | VGI Public vs. Airports of Thailand | VGI 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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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