Correlation Between Siam Technic and Thaicom Public
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By analyzing existing cross correlation between Siam Technic Concrete and Thaicom Public, you can compare the effects of market volatilities on Siam Technic and Thaicom 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 Siam Technic with a short position of Thaicom Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Siam Technic and Thaicom Public.
Diversification Opportunities for Siam Technic and Thaicom Public
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between Siam and Thaicom is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Siam Technic Concrete and Thaicom Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thaicom Public and Siam Technic 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 Siam Technic Concrete are associated (or correlated) with Thaicom Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Thaicom Public has no effect on the direction of Siam Technic i.e., Siam Technic and Thaicom Public go up and down completely randomly.
Pair Corralation between Siam Technic and Thaicom Public
Assuming the 90 days trading horizon Siam Technic Concrete is expected to under-perform the Thaicom Public. But the stock apears to be less risky and, when comparing its historical volatility, Siam Technic Concrete is 51.26 times less risky than Thaicom Public. The stock trades about -0.07 of its potential returns per unit of risk. The Thaicom Public is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 1,238 in Thaicom Public on September 3, 2024 and sell it today you would earn a total of 52.00 from holding Thaicom Public or generate 4.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Siam Technic Concrete vs. Thaicom Public
Performance |
| Timeline |
| Siam Technic Concrete |
| Thaicom Public |
Siam Technic and Thaicom Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Siam Technic and Thaicom Public
The main advantage of trading using opposite Siam Technic and Thaicom Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Siam Technic position performs unexpectedly, Thaicom 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 Thaicom Public will offset losses from the drop in Thaicom Public's long position.| Siam Technic vs. Wave Entertainment Public | Siam Technic vs. Vibhavadi Medical Center | Siam Technic vs. TPI Polene Public | Siam Technic vs. Asia Green Energy |
| Thaicom Public vs. Siam Technic Concrete | Thaicom Public vs. Warrix Sport PCL | Thaicom Public vs. Exotic Food Public | Thaicom Public vs. NAT ABSOLUTE TECHNOLOGIES |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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