Correlation Between Rokk3r and Thai Beverage
Can any of the company-specific risk be diversified away by investing in both Rokk3r and Thai Beverage at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Rokk3r and Thai Beverage into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Rokk3r Inc and Thai Beverage PCL, you can compare the effects of market volatilities on Rokk3r and Thai Beverage 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 Rokk3r with a short position of Thai Beverage. Check out your portfolio center. Please also check ongoing floating volatility patterns of Rokk3r and Thai Beverage.
Diversification Opportunities for Rokk3r and Thai Beverage
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Rokk3r and Thai is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Rokk3r Inc and Thai Beverage PCL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thai Beverage PCL and Rokk3r 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 Rokk3r Inc are associated (or correlated) with Thai Beverage. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Thai Beverage PCL has no effect on the direction of Rokk3r i.e., Rokk3r and Thai Beverage go up and down completely randomly.
Pair Corralation between Rokk3r and Thai Beverage
If you would invest 3,231 in Thai Beverage PCL on December 4, 2024 and sell it today you would earn a total of 136.00 from holding Thai Beverage PCL or generate 4.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Rokk3r Inc vs. Thai Beverage PCL
Performance |
| Timeline |
| Rokk3r Inc |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Thai Beverage PCL |
Rokk3r and Thai Beverage Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Rokk3r and Thai Beverage
The main advantage of trading using opposite Rokk3r and Thai Beverage positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Rokk3r position performs unexpectedly, Thai Beverage 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 Thai Beverage will offset losses from the drop in Thai Beverage's long position.| Rokk3r vs. Capital Clean Energy | Rokk3r vs. PennantPark Floating Rate | Rokk3r vs. Ultra Clean Holdings | Rokk3r vs. Sonos Inc |
| Thai Beverage vs. Andrew Peller Limited | Thai Beverage vs. Aristocrat Group Corp | Thai Beverage vs. Iconic Brands | Thai Beverage vs. Naked Wines plc |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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