Correlation Between Srisawad Power and AEON Thana
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By analyzing existing cross correlation between Srisawad Power 1979 and AEON Thana Sinsap, you can compare the effects of market volatilities on Srisawad Power and AEON Thana 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 Srisawad Power with a short position of AEON Thana. Check out your portfolio center. Please also check ongoing floating volatility patterns of Srisawad Power and AEON Thana.
Diversification Opportunities for Srisawad Power and AEON Thana
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Srisawad and AEON is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding Srisawad Power 1979 and AEON Thana Sinsap in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AEON Thana Sinsap and Srisawad Power 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 Srisawad Power 1979 are associated (or correlated) with AEON Thana. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AEON Thana Sinsap has no effect on the direction of Srisawad Power i.e., Srisawad Power and AEON Thana go up and down completely randomly.
Pair Corralation between Srisawad Power and AEON Thana
Assuming the 90 days trading horizon Srisawad Power is expected to generate 2.03 times less return on investment than AEON Thana. But when comparing it to its historical volatility, Srisawad Power 1979 is 1.41 times less risky than AEON Thana. It trades about 0.04 of its potential returns per unit of risk. AEON Thana Sinsap is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 17,147 in AEON Thana Sinsap on September 12, 2024 and sell it today you would lose (572.00) from holding AEON Thana Sinsap or give up 3.34% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.58% |
| Values | Daily Returns |
Srisawad Power 1979 vs. AEON Thana Sinsap
Performance |
| Timeline |
| Srisawad Power 1979 |
| AEON Thana Sinsap |
Srisawad Power and AEON Thana Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Srisawad Power and AEON Thana
The main advantage of trading using opposite Srisawad Power and AEON Thana positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Srisawad Power position performs unexpectedly, AEON Thana 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 AEON Thana will offset losses from the drop in AEON Thana's long position.| Srisawad Power vs. KGI Securities Public | Srisawad Power vs. Lalin Property Public | Srisawad Power vs. Hwa Fong Rubber | Srisawad Power vs. MCS Steel Public |
| AEON Thana vs. Srisawad Power 1979 | AEON Thana vs. Muangthai Capital Public | AEON Thana vs. Micro Leasing Public | AEON Thana vs. Krungthai Card PCL |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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