Correlation Between TISCO Financial and KTBST Mixed
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By analyzing existing cross correlation between TISCO Financial Group and KTBST Mixed Leasehold, you can compare the effects of market volatilities on TISCO Financial and KTBST Mixed 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 TISCO Financial with a short position of KTBST Mixed. Check out your portfolio center. Please also check ongoing floating volatility patterns of TISCO Financial and KTBST Mixed.
Diversification Opportunities for TISCO Financial and KTBST Mixed
0.26 | Correlation Coefficient |
Modest diversification
The 3 months correlation between TISCO and KTBST is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding TISCO Financial Group and KTBST Mixed Leasehold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KTBST Mixed Leasehold and TISCO Financial 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 TISCO Financial Group are associated (or correlated) with KTBST Mixed. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KTBST Mixed Leasehold has no effect on the direction of TISCO Financial i.e., TISCO Financial and KTBST Mixed go up and down completely randomly.
Pair Corralation between TISCO Financial and KTBST Mixed
Assuming the 90 days trading horizon TISCO Financial Group is expected to under-perform the KTBST Mixed. But the stock apears to be less risky and, when comparing its historical volatility, TISCO Financial Group is 2.42 times less risky than KTBST Mixed. The stock trades about -0.03 of its potential returns per unit of risk. The KTBST Mixed Leasehold is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 647.00 in KTBST Mixed Leasehold on August 30, 2024 and sell it today you would earn a total of 3.00 from holding KTBST Mixed Leasehold or generate 0.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 97.62% |
| Values | Daily Returns |
TISCO Financial Group vs. KTBST Mixed Leasehold
Performance |
| Timeline |
| TISCO Financial Group |
| KTBST Mixed Leasehold |
TISCO Financial and KTBST Mixed Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TISCO Financial and KTBST Mixed
The main advantage of trading using opposite TISCO Financial and KTBST Mixed positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TISCO Financial position performs unexpectedly, KTBST Mixed 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 KTBST Mixed will offset losses from the drop in KTBST Mixed's long position.| TISCO Financial vs. Kasikornbank Public | TISCO Financial vs. Kiatnakin Phatra Bank | TISCO Financial vs. SCB X Public | TISCO Financial vs. Bangkok Bank Public |
| KTBST Mixed vs. Ticon Freehold and | KTBST Mixed vs. CPN Retail Growth | KTBST Mixed vs. Golden Ventures Leasehold | KTBST Mixed vs. Impact Growth REIT |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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