Correlation Between Stock Exchange and Cho Thavee
Can any of the company-specific risk be diversified away by investing in both Stock Exchange and Cho Thavee 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 Stock Exchange and Cho Thavee into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Stock Exchange Of and Cho Thavee Public, you can compare the effects of market volatilities on Stock Exchange and Cho Thavee 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 Cho Thavee. Check out your portfolio center. Please also check ongoing floating volatility patterns of Stock Exchange and Cho Thavee.
Diversification Opportunities for Stock Exchange and Cho Thavee
-0.39 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Stock and Cho is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding Stock Exchange Of and Cho Thavee Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cho Thavee Public 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 Cho Thavee. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cho Thavee Public has no effect on the direction of Stock Exchange i.e., Stock Exchange and Cho Thavee go up and down completely randomly.
Pair Corralation between Stock Exchange and Cho Thavee
Assuming the 90 days trading horizon Stock Exchange is expected to generate 152.51 times less return on investment than Cho Thavee. But when comparing it to its historical volatility, Stock Exchange Of is 173.87 times less risky than Cho Thavee. It trades about 0.13 of its potential returns per unit of risk. Cho Thavee Public is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 7.00 in Cho Thavee Public on August 29, 2024 and sell it today you would lose (3.00) from holding Cho Thavee Public or give up 42.86% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.41% |
| Values | Daily Returns |
Stock Exchange Of vs. Cho Thavee Public
Performance |
| Timeline |
Stock Exchange and Cho Thavee Volatility Contrast
Predicted Return Density |
| Returns |
Stock Exchange Of
Pair trading matchups for Stock Exchange
Cho Thavee Public
Pair trading matchups for Cho Thavee
Pair Trading with Stock Exchange and Cho Thavee
The main advantage of trading using opposite Stock Exchange and Cho Thavee positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Stock Exchange position performs unexpectedly, Cho Thavee 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 Cho Thavee will offset losses from the drop in Cho Thavee's long position.| Stock Exchange vs. Copperwired Public | Stock Exchange vs. DOHOME | Stock Exchange vs. Porn Prom Metal | Stock Exchange vs. 3BB INTERNET INFRASTRUCTURE |
| Cho Thavee vs. Chewathai Public | Cho Thavee vs. Filter Vision Public | Cho Thavee vs. G Capital Public | Cho Thavee vs. Demco Public |
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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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