Correlation Between Thai Beverage and KROGER
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By analyzing existing cross correlation between Thai Beverage PCL and KROGER CO, you can compare the effects of market volatilities on Thai Beverage and KROGER 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 KROGER. Check out your portfolio center. Please also check ongoing floating volatility patterns of Thai Beverage and KROGER.
Diversification Opportunities for Thai Beverage and KROGER
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Thai and KROGER is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Thai Beverage PCL and KROGER CO in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KROGER CO 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 PCL are associated (or correlated) with KROGER. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KROGER CO has no effect on the direction of Thai Beverage i.e., Thai Beverage and KROGER go up and down completely randomly.
Pair Corralation between Thai Beverage and KROGER
If you would invest 3,367 in Thai Beverage PCL on September 3, 2024 and sell it today you would earn a total of 0.00 from holding Thai Beverage PCL or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 57.14% |
| Values | Daily Returns |
Thai Beverage PCL vs. KROGER CO
Performance |
| Timeline |
| Thai Beverage PCL |
| KROGER CO |
Thai Beverage and KROGER Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Thai Beverage and KROGER
The main advantage of trading using opposite Thai Beverage and KROGER positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Thai Beverage position performs unexpectedly, KROGER 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 KROGER will offset losses from the drop in KROGER's long position.| Thai Beverage vs. Andrew Peller Limited | Thai Beverage vs. Aristocrat Group Corp | Thai Beverage vs. Iconic Brands | Thai Beverage vs. Naked Wines plc |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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