Correlation Between Sahamitr Pressure and PTT Public
Can any of the company-specific risk be diversified away by investing in both Sahamitr Pressure and PTT 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 Sahamitr Pressure and PTT Public into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sahamitr Pressure Container and PTT Public, you can compare the effects of market volatilities on Sahamitr Pressure and PTT 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 Sahamitr Pressure with a short position of PTT Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sahamitr Pressure and PTT Public.
Diversification Opportunities for Sahamitr Pressure and PTT Public
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Sahamitr and PTT is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Sahamitr Pressure Container and PTT Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PTT Public and Sahamitr Pressure 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 Sahamitr Pressure Container are associated (or correlated) with PTT Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PTT Public has no effect on the direction of Sahamitr Pressure i.e., Sahamitr Pressure and PTT Public go up and down completely randomly.
Pair Corralation between Sahamitr Pressure and PTT Public
Assuming the 90 days trading horizon Sahamitr Pressure Container is expected to generate 64.43 times more return on investment than PTT Public. However, Sahamitr Pressure is 64.43 times more volatile than PTT Public. It trades about 0.06 of its potential returns per unit of risk. PTT Public is currently generating about 0.02 per unit of risk. If you would invest 994.00 in Sahamitr Pressure Container on August 26, 2024 and sell it today you would lose (59.00) from holding Sahamitr Pressure Container or give up 5.94% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sahamitr Pressure Container vs. PTT Public
Performance |
| Timeline |
| Sahamitr Pressure |
| PTT Public |
Sahamitr Pressure and PTT Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sahamitr Pressure and PTT Public
The main advantage of trading using opposite Sahamitr Pressure and PTT Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sahamitr Pressure position performs unexpectedly, PTT 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 PTT Public will offset losses from the drop in PTT Public's long position.| Sahamitr Pressure vs. PTT Public | Sahamitr Pressure vs. PTT Exploration and | Sahamitr Pressure vs. CP ALL Public | Sahamitr Pressure vs. Kasikornbank Public |
| PTT Public vs. PTT Oil and | PTT Public vs. Power Solution Technologies | PTT Public vs. Star Petroleum Refining | PTT Public vs. Prima Marine 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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
Other Complementary Tools
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance |