Correlation Between Sahamitr Pressure and Salee Printing
Can any of the company-specific risk be diversified away by investing in both Sahamitr Pressure and Salee Printing 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 Salee Printing 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 Salee Printing Public, you can compare the effects of market volatilities on Sahamitr Pressure and Salee Printing 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 Salee Printing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sahamitr Pressure and Salee Printing.
Diversification Opportunities for Sahamitr Pressure and Salee Printing
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Sahamitr and Salee is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding Sahamitr Pressure Container and Salee Printing Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Salee Printing 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 Salee Printing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Salee Printing Public has no effect on the direction of Sahamitr Pressure i.e., Sahamitr Pressure and Salee Printing go up and down completely randomly.
Pair Corralation between Sahamitr Pressure and Salee Printing
Assuming the 90 days trading horizon Sahamitr Pressure is expected to generate 1.02 times less return on investment than Salee Printing. But when comparing it to its historical volatility, Sahamitr Pressure Container is 1.0 times less risky than Salee Printing. It trades about 0.04 of its potential returns per unit of risk. Salee Printing Public is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 65.00 in Salee Printing Public on August 26, 2024 and sell it today you would lose (17.00) from holding Salee Printing Public or give up 26.15% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Sahamitr Pressure Container vs. Salee Printing Public
Performance |
| Timeline |
| Sahamitr Pressure |
| Salee Printing Public |
Sahamitr Pressure and Salee Printing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sahamitr Pressure and Salee Printing
The main advantage of trading using opposite Sahamitr Pressure and Salee Printing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sahamitr Pressure position performs unexpectedly, Salee Printing 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 Salee Printing will offset losses from the drop in Salee Printing'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 |
| Salee Printing vs. S Pack Print | Salee Printing vs. Sahamitr Pressure Container | Salee Printing vs. Srithai Superware Public | Salee Printing vs. Seafco 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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
Other Complementary Tools
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities |