Correlation Between S Pack and Sahamitr Pressure
Can any of the company-specific risk be diversified away by investing in both S Pack and Sahamitr Pressure 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 S Pack and Sahamitr Pressure into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between S Pack Print and Sahamitr Pressure Container, you can compare the effects of market volatilities on S Pack and Sahamitr Pressure 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 S Pack with a short position of Sahamitr Pressure. Check out your portfolio center. Please also check ongoing floating volatility patterns of S Pack and Sahamitr Pressure.
Diversification Opportunities for S Pack and Sahamitr Pressure
0.06 | Correlation Coefficient |
Significant diversification
The 3 months correlation between SPACK and Sahamitr is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding S Pack Print and Sahamitr Pressure Container in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sahamitr Pressure and S Pack 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 S Pack Print are associated (or correlated) with Sahamitr Pressure. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sahamitr Pressure has no effect on the direction of S Pack i.e., S Pack and Sahamitr Pressure go up and down completely randomly.
Pair Corralation between S Pack and Sahamitr Pressure
Assuming the 90 days trading horizon S Pack Print is expected to generate 1.13 times more return on investment than Sahamitr Pressure. However, S Pack is 1.13 times more volatile than Sahamitr Pressure Container. It trades about -0.02 of its potential returns per unit of risk. Sahamitr Pressure Container is currently generating about -0.3 per unit of risk. If you would invest 181.00 in S Pack Print on August 26, 2024 and sell it today you would lose (1.00) from holding S Pack Print or give up 0.55% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
S Pack Print vs. Sahamitr Pressure Container
Performance |
| Timeline |
| S Pack Print |
| Sahamitr Pressure |
S Pack and Sahamitr Pressure Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with S Pack and Sahamitr Pressure
The main advantage of trading using opposite S Pack and Sahamitr Pressure positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if S Pack position performs unexpectedly, Sahamitr Pressure 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 Sahamitr Pressure will offset losses from the drop in Sahamitr Pressure's long position.| S Pack vs. PTT Public | S Pack vs. PTT Exploration and | S Pack vs. CP ALL Public | S Pack vs. Kasikornbank Public |
| Sahamitr Pressure vs. PTT Public | Sahamitr Pressure vs. PTT Exploration and | Sahamitr Pressure vs. CP ALL Public | Sahamitr Pressure vs. Kasikornbank 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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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