Correlation Between SCG PACKAGING and Plan B
Can any of the company-specific risk be diversified away by investing in both SCG PACKAGING and Plan B 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 SCG PACKAGING and Plan B into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SCG PACKAGING PCL NVDR and Plan B Media, you can compare the effects of market volatilities on SCG PACKAGING and Plan B 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 SCG PACKAGING with a short position of Plan B. Check out your portfolio center. Please also check ongoing floating volatility patterns of SCG PACKAGING and Plan B.
Diversification Opportunities for SCG PACKAGING and Plan B
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SCG and Plan is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SCG PACKAGING PCL NVDR and Plan B Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Plan B Media and SCG PACKAGING 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 SCG PACKAGING PCL NVDR are associated (or correlated) with Plan B. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Plan B Media has no effect on the direction of SCG PACKAGING i.e., SCG PACKAGING and Plan B go up and down completely randomly.
Pair Corralation between SCG PACKAGING and Plan B
If you would invest 0.00 in SCG PACKAGING PCL NVDR on November 27, 2024 and sell it today you would earn a total of 0.00 from holding SCG PACKAGING PCL NVDR or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.0% |
| Values | Daily Returns |
SCG PACKAGING PCL NVDR vs. Plan B Media
Performance |
| Timeline |
| SCG PACKAGING PCL |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Plan B Media |
SCG PACKAGING and Plan B Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SCG PACKAGING and Plan B
The main advantage of trading using opposite SCG PACKAGING and Plan B positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SCG PACKAGING position performs unexpectedly, Plan B 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 Plan B will offset losses from the drop in Plan B's long position.| SCG PACKAGING vs. PTT Public | SCG PACKAGING vs. Kasikornbank Public | SCG PACKAGING vs. The Siam Cement | SCG PACKAGING vs. OSOTSPA PCL NVDR |
| Plan B vs. VGI Public | Plan B vs. Minor International Public | Plan B vs. BTS Group Holdings | Plan B 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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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