Correlation Between TKrungthai Industries and Teka Construction
Can any of the company-specific risk be diversified away by investing in both TKrungthai Industries and Teka Construction at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining TKrungthai Industries and Teka Construction into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between TKrungthai Industries Public and Teka Construction PCL, you can compare the effects of market volatilities on TKrungthai Industries and Teka Construction 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 TKrungthai Industries with a short position of Teka Construction. Check out your portfolio center. Please also check ongoing floating volatility patterns of TKrungthai Industries and Teka Construction.
Diversification Opportunities for TKrungthai Industries and Teka Construction
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between TKrungthai and Teka is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding TKrungthai Industries Public and Teka Construction PCL in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Teka Construction PCL and TKrungthai Industries 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 TKrungthai Industries Public are associated (or correlated) with Teka Construction. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Teka Construction PCL has no effect on the direction of TKrungthai Industries i.e., TKrungthai Industries and Teka Construction go up and down completely randomly.
Pair Corralation between TKrungthai Industries and Teka Construction
If you would invest 0.00 in TKrungthai Industries Public on January 16, 2025 and sell it today you would earn a total of 0.00 from holding TKrungthai Industries Public or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.21% |
| Values | Daily Returns |
TKrungthai Industries Public vs. Teka Construction PCL
Performance |
| Timeline |
| TKrungthai Industries |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Teka Construction PCL |
TKrungthai Industries and Teka Construction Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TKrungthai Industries and Teka Construction
The main advantage of trading using opposite TKrungthai Industries and Teka Construction positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TKrungthai Industries position performs unexpectedly, Teka Construction 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 Teka Construction will offset losses from the drop in Teka Construction's long position.| TKrungthai Industries vs. Thai Nam Plastic | TKrungthai Industries vs. TCM Public | TKrungthai Industries vs. S Pack Print | TKrungthai Industries vs. Thai Reinsurance Public |
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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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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