Correlation Between Siam Cement and Siam Cement
Can any of the company-specific risk be diversified away by investing in both Siam Cement and Siam Cement 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 Siam Cement and Siam Cement into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between The Siam Cement and The Siam Cement, you can compare the effects of market volatilities on Siam Cement and Siam Cement 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 Cement with a short position of Siam Cement. Check out your portfolio center. Please also check ongoing floating volatility patterns of Siam Cement and Siam Cement.
Diversification Opportunities for Siam Cement and Siam Cement
0.19 | Correlation Coefficient |
Average diversification
The 3 months correlation between Siam and Siam is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding The Siam Cement and The Siam Cement in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Siam Cement and Siam Cement 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 Cement are associated (or correlated) with Siam Cement. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Siam Cement has no effect on the direction of Siam Cement i.e., Siam Cement and Siam Cement go up and down completely randomly.
Pair Corralation between Siam Cement and Siam Cement
Assuming the 90 days trading horizon The Siam Cement is expected to generate 0.2 times more return on investment than Siam Cement. However, The Siam Cement is 4.91 times less risky than Siam Cement. It trades about -0.14 of its potential returns per unit of risk. The Siam Cement is currently generating about -0.22 per unit of risk. If you would invest 20,400 in The Siam Cement on August 27, 2024 and sell it today you would lose (1,100) from holding The Siam Cement or give up 5.39% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
The Siam Cement vs. The Siam Cement
Performance |
| Timeline |
| Siam Cement |
| Siam Cement |
Siam Cement and Siam Cement Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Siam Cement and Siam Cement
The main advantage of trading using opposite Siam Cement and Siam Cement positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Siam Cement position performs unexpectedly, Siam Cement 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 Siam Cement will offset losses from the drop in Siam Cement's long position.| Siam Cement vs. 3BB INTERNET INFRASTRUCTURE | Siam Cement vs. ALL ENERGY UTILITIES | Siam Cement vs. CHUWIT FARM PUBLIC | Siam Cement vs. Lotus Retail Growth |
| Siam Cement vs. NCL International Logistics | Siam Cement vs. The Erawan Group | Siam Cement vs. Airports of Thailand | Siam Cement vs. Eastern Technical Engineering |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
Other Complementary Tools
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account |