Correlation Between Thai Beverage and TELES Informationstech
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By analyzing existing cross correlation between Thai Beverage Public and TELES Informationstechnologien AG, you can compare the effects of market volatilities on Thai Beverage and TELES Informationstech 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 TELES Informationstech. Check out your portfolio center. Please also check ongoing floating volatility patterns of Thai Beverage and TELES Informationstech.
Diversification Opportunities for Thai Beverage and TELES Informationstech
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Thai and TELES is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding Thai Beverage Public and TELES Informationstechnologien in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TELES Informationstech 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 Public are associated (or correlated) with TELES Informationstech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TELES Informationstech has no effect on the direction of Thai Beverage i.e., Thai Beverage and TELES Informationstech go up and down completely randomly.
Pair Corralation between Thai Beverage and TELES Informationstech
Assuming the 90 days horizon Thai Beverage Public is expected to generate 0.83 times more return on investment than TELES Informationstech. However, Thai Beverage Public is 1.21 times less risky than TELES Informationstech. It trades about 0.06 of its potential returns per unit of risk. TELES Informationstechnologien AG is currently generating about -0.26 per unit of risk. If you would invest 36.00 in Thai Beverage Public on August 31, 2024 and sell it today you would earn a total of 1.00 from holding Thai Beverage Public or generate 2.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Thai Beverage Public vs. TELES Informationstechnologien
Performance |
| Timeline |
| Thai Beverage Public |
| TELES Informationstech |
Thai Beverage and TELES Informationstech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Thai Beverage and TELES Informationstech
The main advantage of trading using opposite Thai Beverage and TELES Informationstech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Thai Beverage position performs unexpectedly, TELES Informationstech 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 TELES Informationstech will offset losses from the drop in TELES Informationstech's long position.| Thai Beverage vs. DOCDATA | Thai Beverage vs. Cass Information Systems | Thai Beverage vs. INFORMATION SVC GRP | Thai Beverage vs. PUBLIC STORAGE PRFO |
| TELES Informationstech vs. Cisco Systems | TELES Informationstech vs. Motorola Solutions | TELES Informationstech vs. Nokia | TELES Informationstech vs. ZTE 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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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