Correlation Between Titan Company and Thaicom Public
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By analyzing existing cross correlation between Titan Company Limited and Thaicom Public, you can compare the effects of market volatilities on Titan Company 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 Titan Company with a short position of Thaicom Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Titan Company and Thaicom Public.
Diversification Opportunities for Titan Company and Thaicom Public
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between Titan and Thaicom is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding Titan Company Limited and Thaicom Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thaicom Public and Titan Company 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 Titan Company Limited 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 Titan Company i.e., Titan Company and Thaicom Public go up and down completely randomly.
Pair Corralation between Titan Company and Thaicom Public
Assuming the 90 days trading horizon Titan Company is expected to generate 47.25 times less return on investment than Thaicom Public. But when comparing it to its historical volatility, Titan Company Limited is 49.32 times less risky than Thaicom Public. It trades about 0.06 of its potential returns per unit of risk. Thaicom Public is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 1,332 in Thaicom Public on September 12, 2024 and sell it today you would earn a total of 108.00 from holding Thaicom Public or generate 8.11% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.77% |
| Values | Daily Returns |
Titan Company Limited vs. Thaicom Public
Performance |
| Timeline |
| Titan Limited |
| Thaicom Public |
Titan Company and Thaicom Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Titan Company and Thaicom Public
The main advantage of trading using opposite Titan Company and Thaicom Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Titan Company 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.| Titan Company vs. Ami Organics Limited | Titan Company vs. Kilitch Drugs Limited | Titan Company vs. Fertilizers and Chemicals | Titan Company vs. Beta Drugs |
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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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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