Correlation Between Ngern Tid and Kasikornbank Public
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By analyzing existing cross correlation between Ngern Tid Lor and Kasikornbank Public, you can compare the effects of market volatilities on Ngern Tid 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 Ngern Tid with a short position of Kasikornbank Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ngern Tid and Kasikornbank Public.
Diversification Opportunities for Ngern Tid and Kasikornbank Public
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Ngern and Kasikornbank is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Ngern Tid Lor and Kasikornbank Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kasikornbank Public and Ngern Tid 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 Ngern Tid Lor 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 Ngern Tid i.e., Ngern Tid and Kasikornbank Public go up and down completely randomly.
Pair Corralation between Ngern Tid and Kasikornbank Public
Assuming the 90 days trading horizon Ngern Tid Lor is expected to generate 2.77 times more return on investment than Kasikornbank Public. However, Ngern Tid is 2.77 times more volatile than Kasikornbank Public. It trades about 0.09 of its potential returns per unit of risk. Kasikornbank Public is currently generating about 0.25 per unit of risk. If you would invest 1,461 in Ngern Tid Lor on October 20, 2024 and sell it today you would earn a total of 59.00 from holding Ngern Tid Lor or generate 4.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ngern Tid Lor vs. Kasikornbank Public
Performance |
| Timeline |
| Ngern Tid Lor |
| Kasikornbank Public |
Ngern Tid and Kasikornbank Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ngern Tid and Kasikornbank Public
The main advantage of trading using opposite Ngern Tid and Kasikornbank Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ngern Tid 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.| Ngern Tid vs. Srisawad Power 1979 | Ngern Tid vs. Muangthai Capital Public | Ngern Tid vs. Micro Leasing Public | Ngern Tid vs. Krungthai Card PCL |
| 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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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