Correlation Between Ratch Group and Electricity Generating
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By analyzing existing cross correlation between Ratch Group Public and Electricity Generating Public, you can compare the effects of market volatilities on Ratch Group and Electricity Generating 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 Electricity Generating. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ratch Group and Electricity Generating.
Diversification Opportunities for Ratch Group and Electricity Generating
-0.03 | Correlation Coefficient |
Good diversification
The 3 months correlation between Ratch and Electricity is -0.03. Overlapping area represents the amount of risk that can be diversified away by holding Ratch Group Public and Electricity Generating Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Electricity Generating 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 Electricity Generating. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Electricity Generating has no effect on the direction of Ratch Group i.e., Ratch Group and Electricity Generating go up and down completely randomly.
Pair Corralation between Ratch Group and Electricity Generating
Assuming the 90 days trading horizon Ratch Group Public is expected to under-perform the Electricity Generating. In addition to that, Ratch Group is 1.72 times more volatile than Electricity Generating Public. It trades about -0.25 of its total potential returns per unit of risk. Electricity Generating Public is currently generating about -0.31 per unit of volatility. If you would invest 11,950 in Electricity Generating Public on October 20, 2024 and sell it today you would lose (850.00) from holding Electricity Generating Public or give up 7.11% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Ratch Group Public vs. Electricity Generating Public
Performance |
| Timeline |
| Ratch Group Public |
| Electricity Generating |
Ratch Group and Electricity Generating Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ratch Group and Electricity Generating
The main advantage of trading using opposite Ratch Group and Electricity Generating positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ratch Group position performs unexpectedly, Electricity Generating 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 Electricity Generating will offset losses from the drop in Electricity Generating'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 |
| Electricity Generating vs. The Siam Cement | Electricity Generating vs. CP ALL Public | Electricity Generating vs. Intouch Holdings Public | Electricity Generating 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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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