Correlation Between Thai Capital and Thaicom Public
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By analyzing existing cross correlation between Thai Capital and Thaicom Public, you can compare the effects of market volatilities on Thai Capital 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 Thai Capital with a short position of Thaicom Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Thai Capital and Thaicom Public.
Diversification Opportunities for Thai Capital and Thaicom Public
0.73 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Thai and Thaicom is 0.73. Overlapping area represents the amount of risk that can be diversified away by holding Thai Capital and Thaicom Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thaicom Public and Thai Capital 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 Capital 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 Thai Capital i.e., Thai Capital and Thaicom Public go up and down completely randomly.
Pair Corralation between Thai Capital and Thaicom Public
Assuming the 90 days trading horizon Thai Capital is expected to generate 1.8 times more return on investment than Thaicom Public. However, Thai Capital is 1.8 times more volatile than Thaicom Public. It trades about -0.08 of its potential returns per unit of risk. Thaicom Public is currently generating about -0.18 per unit of risk. If you would invest 30.00 in Thai Capital on December 1, 2024 and sell it today you would lose (2.00) from holding Thai Capital or give up 6.67% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Thai Capital vs. Thaicom Public
Performance |
| Timeline |
| Thai Capital |
| Thaicom Public |
Thai Capital and Thaicom Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Thai Capital and Thaicom Public
The main advantage of trading using opposite Thai Capital and Thaicom Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Thai Capital 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.| Thai Capital vs. RPCG Public | Thai Capital vs. Solartron Public | Thai Capital vs. Star Petroleum Refining | Thai Capital vs. Super Energy |
| Thaicom Public vs. WHA Industrial Leasehold | Thaicom Public vs. Taokaenoi Food Marketing | Thaicom Public vs. Srinanaporn Marketing Public | Thaicom Public vs. Tanachira Retail |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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