Correlation Between Stock Exchange and PTT Exploration
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By analyzing existing cross correlation between Stock Exchange Of and PTT Exploration and, you can compare the effects of market volatilities on Stock Exchange and PTT Exploration 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 PTT Exploration. Check out your portfolio center. Please also check ongoing floating volatility patterns of Stock Exchange and PTT Exploration.
Diversification Opportunities for Stock Exchange and PTT Exploration
0.11 | Correlation Coefficient |
Average diversification
The 3 months correlation between Stock and PTT is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding Stock Exchange Of and PTT Exploration and in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PTT Exploration 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 PTT Exploration. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PTT Exploration has no effect on the direction of Stock Exchange i.e., Stock Exchange and PTT Exploration go up and down completely randomly.
Pair Corralation between Stock Exchange and PTT Exploration
Assuming the 90 days trading horizon Stock Exchange Of is expected to generate 0.16 times more return on investment than PTT Exploration. However, Stock Exchange Of is 6.27 times less risky than PTT Exploration. It trades about -0.2 of its potential returns per unit of risk. PTT Exploration and is currently generating about -0.21 per unit of risk. If you would invest 146,604 in Stock Exchange Of on September 1, 2024 and sell it today you would lose (3,850) from holding Stock Exchange Of or give up 2.63% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Stock Exchange Of vs. PTT Exploration and
Performance |
| Timeline |
Stock Exchange and PTT Exploration Volatility Contrast
Predicted Return Density |
| Returns |
Stock Exchange Of
Pair trading matchups for Stock Exchange
PTT Exploration and
Pair trading matchups for PTT Exploration
Pair Trading with Stock Exchange and PTT Exploration
The main advantage of trading using opposite Stock Exchange and PTT Exploration positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Stock Exchange position performs unexpectedly, PTT Exploration 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 PTT Exploration will offset losses from the drop in PTT Exploration's long position.| Stock Exchange vs. Porn Prom Metal | Stock Exchange vs. WHA Industrial Leasehold | Stock Exchange vs. 2S Metal Public | Stock Exchange vs. Turnkey Communication Services |
| PTT Exploration vs. PTT Public | PTT Exploration vs. CP ALL Public | PTT Exploration vs. Airports of Thailand | PTT Exploration vs. PTT Exploration and |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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