Correlation Between THAI BEVERAGE and RTL Group
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By analyzing existing cross correlation between THAI BEVERAGE and RTL Group SA, you can compare the effects of market volatilities on THAI BEVERAGE and RTL Group 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 THAI BEVERAGE with a short position of RTL Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of THAI BEVERAGE and RTL Group.
Diversification Opportunities for THAI BEVERAGE and RTL Group
-0.58 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between THAI and RTL is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding THAI BEVERAGE and RTL Group SA in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on RTL Group SA and THAI BEVERAGE 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 THAI BEVERAGE are associated (or correlated) with RTL Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of RTL Group SA has no effect on the direction of THAI BEVERAGE i.e., THAI BEVERAGE and RTL Group go up and down completely randomly.
Pair Corralation between THAI BEVERAGE and RTL Group
Assuming the 90 days trading horizon THAI BEVERAGE is expected to under-perform the RTL Group. In addition to that, THAI BEVERAGE is 1.04 times more volatile than RTL Group SA. It trades about -0.17 of its total potential returns per unit of risk. RTL Group SA is currently generating about -0.03 per unit of volatility. If you would invest 3,440 in RTL Group SA on January 11, 2025 and sell it today you would lose (65.00) from holding RTL Group SA or give up 1.89% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
THAI BEVERAGE vs. RTL Group SA
Performance |
| Timeline |
| THAI BEVERAGE |
| RTL Group SA |
THAI BEVERAGE and RTL Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with THAI BEVERAGE and RTL Group
The main advantage of trading using opposite THAI BEVERAGE and RTL Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if THAI BEVERAGE position performs unexpectedly, RTL Group 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 RTL Group will offset losses from the drop in RTL Group's long position.| THAI BEVERAGE vs. FORMPIPE SOFTWARE AB | THAI BEVERAGE vs. COLUMBIA SPORTSWEAR | THAI BEVERAGE vs. OPERA SOFTWARE | THAI BEVERAGE vs. COGNYTE SOFTWARE LTD |
| RTL Group vs. KUAISHOU TECHNOLOGY CLB | RTL Group vs. FOX P B | RTL Group vs. Vivendi SE | RTL Group vs. News Corporation |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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