Correlation Between Siam Commercial and Delta Electronics
Specify exactly 2 symbols:
By analyzing existing cross correlation between The Siam Commercial and Delta Electronics Public, you can compare the effects of market volatilities on Siam Commercial and Delta Electronics 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 Delta Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Siam Commercial and Delta Electronics.
Diversification Opportunities for Siam Commercial and Delta Electronics
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Siam and Delta is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding The Siam Commercial and Delta Electronics Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Delta Electronics 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 Delta Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Delta Electronics Public has no effect on the direction of Siam Commercial i.e., Siam Commercial and Delta Electronics go up and down completely randomly.
Pair Corralation between Siam Commercial and Delta Electronics
Assuming the 90 days trading horizon Siam Commercial is expected to generate 10.17 times less return on investment than Delta Electronics. But when comparing it to its historical volatility, The Siam Commercial is 9.17 times less risky than Delta Electronics. It trades about 0.19 of its potential returns per unit of risk. Delta Electronics Public is currently generating about 0.21 of returns per unit of risk over similar time horizon. If you would invest 9,920 in Delta Electronics Public on August 25, 2024 and sell it today you would earn a total of 4,680 from holding Delta Electronics Public or generate 47.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
The Siam Commercial vs. Delta Electronics Public
Performance |
| Timeline |
| Siam Commercial |
| Delta Electronics Public |
Siam Commercial and Delta Electronics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Siam Commercial and Delta Electronics
The main advantage of trading using opposite Siam Commercial and Delta Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Siam Commercial position performs unexpectedly, Delta Electronics 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 Delta Electronics will offset losses from the drop in Delta Electronics' long position.| Siam Commercial vs. PTT Public | Siam Commercial vs. CP ALL Public | Siam Commercial vs. SCB X Public | Siam Commercial vs. Airports of Thailand |
| Delta Electronics vs. Delta Electronics Public | Delta Electronics vs. PTT Public | Delta Electronics vs. CP ALL Public | Delta Electronics vs. The Siam Commercial |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Other Complementary Tools
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum |