Correlation Between SC Asset and Sammakorn Public
Can any of the company-specific risk be diversified away by investing in both SC Asset and Sammakorn Public 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 SC Asset and Sammakorn Public into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SC Asset and Sammakorn Public, you can compare the effects of market volatilities on SC Asset and Sammakorn Public 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 SC Asset with a short position of Sammakorn Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of SC Asset and Sammakorn Public.
Diversification Opportunities for SC Asset and Sammakorn Public
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between SC Asset and Sammakorn is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding SC Asset and Sammakorn Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sammakorn Public and SC Asset 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 SC Asset are associated (or correlated) with Sammakorn Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sammakorn Public has no effect on the direction of SC Asset i.e., SC Asset and Sammakorn Public go up and down completely randomly.
Pair Corralation between SC Asset and Sammakorn Public
Assuming the 90 days horizon SC Asset is expected to generate 1.01 times less return on investment than Sammakorn Public. In addition to that, SC Asset is 1.0 times more volatile than Sammakorn Public. It trades about 0.05 of its total potential returns per unit of risk. Sammakorn Public is currently generating about 0.05 per unit of volatility. If you would invest 117.00 in Sammakorn Public on September 4, 2024 and sell it today you would lose (23.00) from holding Sammakorn Public or give up 19.66% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
SC Asset vs. Sammakorn Public
Performance |
| Timeline |
| SC Asset |
| Sammakorn Public |
SC Asset and Sammakorn Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SC Asset and Sammakorn Public
The main advantage of trading using opposite SC Asset and Sammakorn Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SC Asset position performs unexpectedly, Sammakorn Public 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 Sammakorn Public will offset losses from the drop in Sammakorn Public's long position.| SC Asset vs. Peerapat Technology Public | SC Asset vs. Silicon Craft Technology | SC Asset vs. Turnkey Communication Services | SC Asset vs. Advanced Information Technology |
| Sammakorn Public vs. SC Asset | Sammakorn Public vs. Quality Houses Public | Sammakorn Public vs. Siri Prime Office | Sammakorn Public vs. Raimon Land 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
Other Complementary Tools
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities |