Correlation Between Pylon Public and Ratch Group
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By analyzing existing cross correlation between Pylon Public and Ratch Group Public, you can compare the effects of market volatilities on Pylon Public 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 Pylon Public with a short position of Ratch Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Pylon Public and Ratch Group.
Diversification Opportunities for Pylon Public and Ratch Group
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Pylon and Ratch is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding Pylon Public 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 Pylon Public 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 Pylon Public 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 Pylon Public i.e., Pylon Public and Ratch Group go up and down completely randomly.
Pair Corralation between Pylon Public and Ratch Group
Assuming the 90 days trading horizon Pylon Public is expected to generate 0.78 times more return on investment than Ratch Group. However, Pylon Public is 1.28 times less risky than Ratch Group. It trades about -0.06 of its potential returns per unit of risk. Ratch Group Public is currently generating about -0.14 per unit of risk. If you would invest 189.00 in Pylon Public on November 2, 2024 and sell it today you would lose (3.00) from holding Pylon Public or give up 1.59% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 95.45% |
| Values | Daily Returns |
Pylon Public vs. Ratch Group Public
Performance |
| Timeline |
| Pylon Public |
| Ratch Group Public |
Pylon Public and Ratch Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Pylon Public and Ratch Group
The main advantage of trading using opposite Pylon Public and Ratch Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Pylon Public 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.| Pylon Public vs. Seafco Public | Pylon Public vs. PTG Energy PCL | Pylon Public vs. CH Karnchang Public | Pylon Public vs. Ratchthani Leasing Public |
| Ratch Group vs. Electricity Generating Public | Ratch Group vs. The Siam Cement | Ratch Group vs. PTT Public | Ratch Group vs. The Erawan Group |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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