Correlation Between True Public and B GRIMM
Specify exactly 2 symbols:
By analyzing existing cross correlation between True Public and B GRIMM POWER, you can compare the effects of market volatilities on True Public and B GRIMM 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 True Public with a short position of B GRIMM. Check out your portfolio center. Please also check ongoing floating volatility patterns of True Public and B GRIMM.
Diversification Opportunities for True Public and B GRIMM
-1.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between True and BGRIM-R is -1.0. Overlapping area represents the amount of risk that can be diversified away by holding True Public and B GRIMM POWER in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on B GRIMM POWER and True Public 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 True Public are associated (or correlated) with B GRIMM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of B GRIMM POWER has no effect on the direction of True Public i.e., True Public and B GRIMM go up and down completely randomly.
Pair Corralation between True Public and B GRIMM
Assuming the 90 days trading horizon True Public is expected to generate 1.32 times more return on investment than B GRIMM. However, True Public is 1.32 times more volatile than B GRIMM POWER. It trades about 0.06 of its potential returns per unit of risk. B GRIMM POWER is currently generating about -0.04 per unit of risk. If you would invest 687.00 in True Public on September 14, 2024 and sell it today you would earn a total of 503.00 from holding True Public or generate 73.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Strong |
| Accuracy | 99.58% |
| Values | Daily Returns |
True Public vs. B GRIMM POWER
Performance |
| Timeline |
| True Public |
| B GRIMM POWER |
True Public and B GRIMM Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with True Public and B GRIMM
The main advantage of trading using opposite True Public and B GRIMM positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if True Public position performs unexpectedly, B GRIMM 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 B GRIMM will offset losses from the drop in B GRIMM's long position.| True Public vs. Intouch Holdings Public | True Public vs. True Public | True Public vs. Bangkok Expressway and | True Public vs. Central Pattana Public |
| B GRIMM vs. BGrimm Power Public | B GRIMM vs. Bangkok Dusit Medical | B GRIMM vs. Electricity Generating Public | B GRIMM vs. PTT 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 Portfolio Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
Other Complementary Tools
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities |