Correlation Between Ratch Group and Autocorp Holding
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By analyzing existing cross correlation between Ratch Group Public and Autocorp Holding Public, you can compare the effects of market volatilities on Ratch Group and Autocorp Holding 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 Ratch Group with a short position of Autocorp Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ratch Group and Autocorp Holding.
Diversification Opportunities for Ratch Group and Autocorp Holding
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Ratch and Autocorp is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Ratch Group Public and Autocorp Holding Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Autocorp Holding Public and Ratch Group 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 Ratch Group Public are associated (or correlated) with Autocorp Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Autocorp Holding Public has no effect on the direction of Ratch Group i.e., Ratch Group and Autocorp Holding go up and down completely randomly.
Pair Corralation between Ratch Group and Autocorp Holding
Assuming the 90 days trading horizon Ratch Group Public is expected to under-perform the Autocorp Holding. But the stock apears to be less risky and, when comparing its historical volatility, Ratch Group Public is 1.19 times less risky than Autocorp Holding. The stock trades about -0.25 of its potential returns per unit of risk. The Autocorp Holding Public is currently generating about -0.15 of returns per unit of risk over similar time horizon. If you would invest 90.00 in Autocorp Holding Public on October 20, 2024 and sell it today you would lose (7.00) from holding Autocorp Holding Public or give up 7.78% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ratch Group Public vs. Autocorp Holding Public
Performance |
| Timeline |
| Ratch Group Public |
| Autocorp Holding Public |
Ratch Group and Autocorp Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ratch Group and Autocorp Holding
The main advantage of trading using opposite Ratch Group and Autocorp Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ratch Group position performs unexpectedly, Autocorp Holding 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 Autocorp Holding will offset losses from the drop in Autocorp Holding's long position.| Ratch Group vs. Electricity Generating Public | Ratch Group vs. The Siam Cement | Ratch Group vs. PTT Public | Ratch Group vs. The Erawan Group |
| Autocorp Holding vs. Amanah Leasing Public | Autocorp Holding vs. Asia Fiber Public | Autocorp Holding vs. Ingress Industrial Public | Autocorp Holding vs. Ekarat Engineering 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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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