Correlation Between Siri Prime and Sammakorn Public
Can any of the company-specific risk be diversified away by investing in both Siri Prime and Sammakorn Public 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 Siri Prime and Sammakorn Public into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Siri Prime Office and Sammakorn Public, you can compare the effects of market volatilities on Siri Prime and Sammakorn Public 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 Siri Prime with a short position of Sammakorn Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Siri Prime and Sammakorn Public.
Diversification Opportunities for Siri Prime and Sammakorn Public
0.31 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Siri and Sammakorn is 0.31. Overlapping area represents the amount of risk that can be diversified away by holding Siri Prime Office and Sammakorn Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sammakorn Public and Siri Prime 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 Siri Prime Office are associated (or correlated) with Sammakorn Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sammakorn Public has no effect on the direction of Siri Prime i.e., Siri Prime and Sammakorn Public go up and down completely randomly.
Pair Corralation between Siri Prime and Sammakorn Public
Assuming the 90 days trading horizon Siri Prime is expected to generate 52.03 times less return on investment than Sammakorn Public. But when comparing it to its historical volatility, Siri Prime Office is 31.11 times less risky than Sammakorn Public. It trades about 0.03 of its potential returns per unit of risk. Sammakorn Public is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 132.00 in Sammakorn Public on September 4, 2024 and sell it today you would lose (38.00) from holding Sammakorn Public or give up 28.79% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.73% |
| Values | Daily Returns |
Siri Prime Office vs. Sammakorn Public
Performance |
| Timeline |
| Siri Prime Office |
| Sammakorn Public |
Siri Prime and Sammakorn Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Siri Prime and Sammakorn Public
The main advantage of trading using opposite Siri Prime and Sammakorn Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Siri Prime position performs unexpectedly, Sammakorn Public 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 Sammakorn Public will offset losses from the drop in Sammakorn Public's long position.| Siri Prime vs. Land and Houses | Siri Prime vs. Quality Houses Public | Siri Prime vs. AP Public | Siri Prime vs. SCB X Public |
| Sammakorn Public vs. SC Asset | Sammakorn Public vs. Quality Houses Public | Sammakorn Public vs. Siri Prime Office | Sammakorn Public vs. Raimon Land 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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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