Correlation Between VGI Public and Kasikornbank Public
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By analyzing existing cross correlation between VGI Public and Kasikornbank Public, you can compare the effects of market volatilities on VGI Public 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 VGI Public with a short position of Kasikornbank Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of VGI Public and Kasikornbank Public.
Diversification Opportunities for VGI Public and Kasikornbank Public
0.78 | Correlation Coefficient |
Poor diversification
The 3 months correlation between VGI and Kasikornbank is 0.78. Overlapping area represents the amount of risk that can be diversified away by holding VGI Public and Kasikornbank Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kasikornbank Public and VGI 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 VGI Public 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 VGI Public i.e., VGI Public and Kasikornbank Public go up and down completely randomly.
Pair Corralation between VGI Public and Kasikornbank Public
Assuming the 90 days trading horizon VGI Public is expected to generate 94.64 times more return on investment than Kasikornbank Public. However, VGI Public is 94.64 times more volatile than Kasikornbank Public. It trades about 0.1 of its potential returns per unit of risk. Kasikornbank Public is currently generating about 0.11 per unit of risk. If you would invest 0.00 in VGI Public on November 2, 2024 and sell it today you would earn a total of 314.00 from holding VGI Public or generate 9.223372036854776E16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
VGI Public vs. Kasikornbank Public
Performance |
| Timeline |
| VGI Public |
| Kasikornbank Public |
VGI Public and Kasikornbank Public Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with VGI Public and Kasikornbank Public
The main advantage of trading using opposite VGI Public and Kasikornbank Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if VGI Public 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.| VGI Public vs. BTS Group Holdings | VGI Public vs. WHA Public | VGI Public vs. Plan B Media | VGI Public vs. Gulf Energy Development |
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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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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