Correlation Between Stock Exchange and AEON Thana
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By analyzing existing cross correlation between Stock Exchange Of and AEON Thana Sinsap, you can compare the effects of market volatilities on Stock Exchange and AEON Thana 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 Stock Exchange with a short position of AEON Thana. Check out your portfolio center. Please also check ongoing floating volatility patterns of Stock Exchange and AEON Thana.
Diversification Opportunities for Stock Exchange and AEON Thana
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Stock and AEON is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding Stock Exchange Of and AEON Thana Sinsap in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AEON Thana Sinsap and Stock Exchange 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 Stock Exchange Of are associated (or correlated) with AEON Thana. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AEON Thana Sinsap has no effect on the direction of Stock Exchange i.e., Stock Exchange and AEON Thana go up and down completely randomly.
Pair Corralation between Stock Exchange and AEON Thana
Assuming the 90 days trading horizon Stock Exchange Of is expected to under-perform the AEON Thana. But the index apears to be less risky and, when comparing its historical volatility, Stock Exchange Of is 111.03 times less risky than AEON Thana. The index trades about -0.03 of its potential returns per unit of risk. The AEON Thana Sinsap is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 17,085 in AEON Thana Sinsap on September 3, 2024 and sell it today you would lose (4,585) from holding AEON Thana Sinsap or give up 26.84% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 98.96% |
| Values | Daily Returns |
Stock Exchange Of vs. AEON Thana Sinsap
Performance |
| Timeline |
Stock Exchange and AEON Thana Volatility Contrast
Predicted Return Density |
| Returns |
Stock Exchange Of
Pair trading matchups for Stock Exchange
AEON Thana Sinsap
Pair trading matchups for AEON Thana
Pair Trading with Stock Exchange and AEON Thana
The main advantage of trading using opposite Stock Exchange and AEON Thana positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Stock Exchange position performs unexpectedly, AEON Thana 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 AEON Thana will offset losses from the drop in AEON Thana's long position.| Stock Exchange vs. Siam Wellness Group | Stock Exchange vs. ABSOLUTE CLEAN ENERGY | Stock Exchange vs. Sri panwa Hospitality | Stock Exchange vs. 2S Metal Public |
| AEON Thana vs. Grande Hospitality Real | AEON Thana vs. Exotic Food Public | AEON Thana vs. Jasmine Telecom Systems | AEON Thana vs. Charoen Pokphand Foods |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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