Correlation Between Thai Reinsurance and Kasikornbank Public
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By analyzing existing cross correlation between Thai Reinsurance Public and Kasikornbank Public, you can compare the effects of market volatilities on Thai Reinsurance and Kasikornbank 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 Reinsurance with a short position of Kasikornbank Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Thai Reinsurance and Kasikornbank Public.
Diversification Opportunities for Thai Reinsurance and Kasikornbank Public
-0.67 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Thai and Kasikornbank is -0.67. Overlapping area represents the amount of risk that can be diversified away by holding Thai Reinsurance Public and Kasikornbank Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kasikornbank Public and Thai Reinsurance 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 Reinsurance Public are associated (or correlated) with Kasikornbank Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kasikornbank Public has no effect on the direction of Thai Reinsurance i.e., Thai Reinsurance and Kasikornbank Public go up and down completely randomly.
Pair Corralation between Thai Reinsurance and Kasikornbank Public
Assuming the 90 days trading horizon Thai Reinsurance Public is expected to under-perform the Kasikornbank Public. In addition to that, Thai Reinsurance is 1.38 times more volatile than Kasikornbank Public. It trades about -0.22 of its total potential returns per unit of risk. Kasikornbank Public is currently generating about 0.25 per unit of volatility. If you would invest 15,400 in Kasikornbank Public on October 20, 2024 and sell it today you would earn a total of 700.00 from holding Kasikornbank Public or generate 4.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Thai Reinsurance Public vs. Kasikornbank Public
Performance |
| Timeline |
| Thai Reinsurance Public |
| Kasikornbank Public |
Thai Reinsurance and Kasikornbank Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Thai Reinsurance and Kasikornbank Public
The main advantage of trading using opposite Thai Reinsurance and Kasikornbank Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Thai Reinsurance position performs unexpectedly, Kasikornbank 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 Kasikornbank Public will offset losses from the drop in Kasikornbank Public's long position.| Thai Reinsurance vs. KGI Securities Public | Thai Reinsurance vs. Eastern Commercial Leasing | Thai Reinsurance vs. JMT Network Services | Thai Reinsurance vs. IFS Capital Public |
| Kasikornbank Public vs. PTT Public | Kasikornbank Public vs. The Siam Commercial | Kasikornbank Public vs. CP ALL Public | Kasikornbank Public vs. SCB X Public |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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