Correlation Between Siam Commercial and CP ALL
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By analyzing existing cross correlation between The Siam Commercial and CP ALL Public, you can compare the effects of market volatilities on Siam Commercial and CP ALL 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 Siam Commercial with a short position of CP ALL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Siam Commercial and CP ALL.
Diversification Opportunities for Siam Commercial and CP ALL
-0.35 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Siam and CPALL-R is -0.35. Overlapping area represents the amount of risk that can be diversified away by holding The Siam Commercial and CP ALL Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CP ALL Public and Siam Commercial 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 The Siam Commercial are associated (or correlated) with CP ALL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CP ALL Public has no effect on the direction of Siam Commercial i.e., Siam Commercial and CP ALL go up and down completely randomly.
Pair Corralation between Siam Commercial and CP ALL
Assuming the 90 days trading horizon The Siam Commercial is expected to generate 0.54 times more return on investment than CP ALL. However, The Siam Commercial is 1.85 times less risky than CP ALL. It trades about 0.2 of its potential returns per unit of risk. CP ALL Public is currently generating about 0.07 per unit of risk. If you would invest 11,778 in The Siam Commercial on October 20, 2024 and sell it today you would earn a total of 372.00 from holding The Siam Commercial or generate 3.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
The Siam Commercial vs. CP ALL Public
Performance |
| Timeline |
| Siam Commercial |
| CP ALL Public |
Siam Commercial and CP ALL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Siam Commercial and CP ALL
The main advantage of trading using opposite Siam Commercial and CP ALL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Siam Commercial position performs unexpectedly, CP ALL 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 CP ALL will offset losses from the drop in CP ALL's long position.| Siam Commercial vs. The Siam Cement | Siam Commercial vs. Krung Thai Bank | Siam Commercial vs. Airports of Thailand | Siam Commercial vs. Kasikornbank Public |
| CP ALL vs. Airports of Thailand | CP ALL vs. CP ALL Public | CP ALL vs. Charoen Pokphand Foods | CP ALL vs. Bangkok Dusit Medical |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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