Correlation Between Supalai Public and Thanachart Capital
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By analyzing existing cross correlation between Supalai Public and Thanachart Capital Public, you can compare the effects of market volatilities on Supalai Public and Thanachart Capital 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 Supalai Public with a short position of Thanachart Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Supalai Public and Thanachart Capital.
Diversification Opportunities for Supalai Public and Thanachart Capital
0.98 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Supalai and Thanachart is 0.98. Overlapping area represents the amount of risk that can be diversified away by holding Supalai Public and Thanachart Capital Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thanachart Capital Public and Supalai Public 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 Supalai Public are associated (or correlated) with Thanachart Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Thanachart Capital Public has no effect on the direction of Supalai Public i.e., Supalai Public and Thanachart Capital go up and down completely randomly.
Pair Corralation between Supalai Public and Thanachart Capital
Assuming the 90 days trading horizon Supalai Public is expected to under-perform the Thanachart Capital. In addition to that, Supalai Public is 3.39 times more volatile than Thanachart Capital Public. It trades about -0.23 of its total potential returns per unit of risk. Thanachart Capital Public is currently generating about -0.06 per unit of volatility. If you would invest 4,945 in Thanachart Capital Public on September 3, 2024 and sell it today you would lose (45.00) from holding Thanachart Capital Public or give up 0.91% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Supalai Public vs. Thanachart Capital Public
Performance |
| Timeline |
| Supalai Public |
| Thanachart Capital Public |
Supalai Public and Thanachart Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Supalai Public and Thanachart Capital
The main advantage of trading using opposite Supalai Public and Thanachart Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Supalai Public position performs unexpectedly, Thanachart Capital 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 Thanachart Capital will offset losses from the drop in Thanachart Capital's long position.| Supalai Public vs. Warrix Sport PCL | Supalai Public vs. Syntec Construction Public | Supalai Public vs. CHAOSUA FOODS INDUSTRY | Supalai Public vs. Grande Hospitality Real |
| Thanachart Capital vs. Kiatnakin Phatra Bank | Thanachart Capital vs. Supalai Public | Thanachart Capital vs. Thai Oil Public | Thanachart Capital vs. The Erawan Group |
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.
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