Correlation Between Thaicom Public and Prime Office
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By analyzing existing cross correlation between Thaicom Public and Prime Office Leasehold, you can compare the effects of market volatilities on Thaicom Public and Prime Office 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 Thaicom Public with a short position of Prime Office. Check out your portfolio center. Please also check ongoing floating volatility patterns of Thaicom Public and Prime Office.
Diversification Opportunities for Thaicom Public and Prime Office
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Thaicom and Prime is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding Thaicom Public and Prime Office Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Prime Office Leasehold and Thaicom Public 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 Thaicom Public are associated (or correlated) with Prime Office. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Prime Office Leasehold has no effect on the direction of Thaicom Public i.e., Thaicom Public and Prime Office go up and down completely randomly.
Pair Corralation between Thaicom Public and Prime Office
Assuming the 90 days trading horizon Thaicom Public is expected to under-perform the Prime Office. In addition to that, Thaicom Public is 4.29 times more volatile than Prime Office Leasehold. It trades about -0.09 of its total potential returns per unit of risk. Prime Office Leasehold is currently generating about 0.0 per unit of volatility. If you would invest 630.00 in Prime Office Leasehold on October 9, 2024 and sell it today you would earn a total of 0.00 from holding Prime Office Leasehold or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 94.74% |
| Values | Daily Returns |
Thaicom Public vs. Prime Office Leasehold
Performance |
| Timeline |
| Thaicom Public |
| Prime Office Leasehold |
Thaicom Public and Prime Office Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Thaicom Public and Prime Office
The main advantage of trading using opposite Thaicom Public and Prime Office positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Thaicom Public position performs unexpectedly, Prime Office 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 Prime Office will offset losses from the drop in Prime Office's long position.| Thaicom Public vs. Prime Office Leasehold | Thaicom Public vs. Quality Houses Hotel | Thaicom Public vs. Quality Houses Property | Thaicom Public vs. The Erawan Group |
| Prime Office vs. CPN Commercial Growth | Prime Office vs. Quality Houses Property | Prime Office vs. LH Shopping Centers |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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