Correlation Between Bondbloxx ETF and Bangkok Bank
Can any of the company-specific risk be diversified away by investing in both Bondbloxx ETF and Bangkok Bank 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 Bondbloxx ETF and Bangkok Bank into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bondbloxx ETF Trust and Bangkok Bank Public, you can compare the effects of market volatilities on Bondbloxx ETF and Bangkok Bank 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 Bondbloxx ETF with a short position of Bangkok Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bondbloxx ETF and Bangkok Bank.
Diversification Opportunities for Bondbloxx ETF and Bangkok Bank
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Bondbloxx and Bangkok is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Bondbloxx ETF Trust and Bangkok Bank Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bangkok Bank Public and Bondbloxx ETF 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 Bondbloxx ETF Trust are associated (or correlated) with Bangkok Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bangkok Bank Public has no effect on the direction of Bondbloxx ETF i.e., Bondbloxx ETF and Bangkok Bank go up and down completely randomly.
Pair Corralation between Bondbloxx ETF and Bangkok Bank
Given the investment horizon of 90 days Bondbloxx ETF Trust is expected to under-perform the Bangkok Bank. But the etf apears to be less risky and, when comparing its historical volatility, Bondbloxx ETF Trust is 3.89 times less risky than Bangkok Bank. The etf trades about -0.02 of its potential returns per unit of risk. The Bangkok Bank Public is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 406.00 in Bangkok Bank Public on December 6, 2024 and sell it today you would earn a total of 7.00 from holding Bangkok Bank Public or generate 1.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 29.96% |
| Values | Daily Returns |
Bondbloxx ETF Trust vs. Bangkok Bank Public
Performance |
| Timeline |
| Bondbloxx ETF Trust |
| Bangkok Bank Public |
Bondbloxx ETF and Bangkok Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bondbloxx ETF and Bangkok Bank
The main advantage of trading using opposite Bondbloxx ETF and Bangkok Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bondbloxx ETF position performs unexpectedly, Bangkok Bank 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 Bangkok Bank will offset losses from the drop in Bangkok Bank's long position.| Bondbloxx ETF vs. Bondbloxx ETF Trust | Bondbloxx ETF vs. Bondbloxx ETF Trust | Bondbloxx ETF vs. Bondbloxx ETF Trust | Bondbloxx ETF vs. Bondbloxx ETF Trust |
| Bangkok Bank vs. Bank of the | Bangkok Bank vs. BOC Hong Kong | Bangkok Bank vs. China Merchants Bank | Bangkok Bank vs. BDO Unibank ADR |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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