Correlation Between Ratch Group and Siam Cement
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By analyzing existing cross correlation between Ratch Group Public and The Siam Cement, you can compare the effects of market volatilities on Ratch Group and Siam Cement 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 Siam Cement. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ratch Group and Siam Cement.
Diversification Opportunities for Ratch Group and Siam Cement
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Ratch and Siam is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding Ratch Group Public and The Siam Cement in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Siam Cement 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 Siam Cement. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Siam Cement has no effect on the direction of Ratch Group i.e., Ratch Group and Siam Cement go up and down completely randomly.
Pair Corralation between Ratch Group and Siam Cement
Assuming the 90 days trading horizon Ratch Group Public is expected to generate 0.42 times more return on investment than Siam Cement. However, Ratch Group Public is 2.38 times less risky than Siam Cement. It trades about -0.14 of its potential returns per unit of risk. The Siam Cement is currently generating about -0.28 per unit of risk. If you would invest 3,612 in Ratch Group Public on September 13, 2024 and sell it today you would lose (411.00) from holding Ratch Group Public or give up 11.38% 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. The Siam Cement
Performance |
| Timeline |
| Ratch Group Public |
| Siam Cement |
Ratch Group and Siam Cement Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ratch Group and Siam Cement
The main advantage of trading using opposite Ratch Group and Siam Cement positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ratch Group position performs unexpectedly, Siam Cement 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 Cement will offset losses from the drop in Siam Cement's long position.| Ratch Group vs. Electricity Generating Public | Ratch Group vs. The Siam Cement | Ratch Group vs. PTT Exploration and | Ratch Group vs. PTT Public |
| Siam Cement vs. PTT Public | Siam Cement vs. The Siam Commercial | Siam Cement vs. Airports of Thailand | Siam Cement vs. CP ALL 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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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