Correlation Between Amata Public and Ratch Group
Specify exactly 2 symbols:
By analyzing existing cross correlation between Amata Public and Ratch Group Public, you can compare the effects of market volatilities on Amata Public and Ratch Group 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 Amata Public with a short position of Ratch Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amata Public and Ratch Group.
Diversification Opportunities for Amata Public and Ratch Group
-0.08 | Correlation Coefficient |
Good diversification
The 3 months correlation between Amata and Ratch is -0.08. Overlapping area represents the amount of risk that can be diversified away by holding Amata Public and Ratch Group Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ratch Group Public and Amata 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 Amata Public are associated (or correlated) with Ratch Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ratch Group Public has no effect on the direction of Amata Public i.e., Amata Public and Ratch Group go up and down completely randomly.
Pair Corralation between Amata Public and Ratch Group
If you would invest 2,270 in Amata Public on September 23, 2024 and sell it today you would earn a total of 0.00 from holding Amata Public or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 50.0% |
Values | Daily Returns |
Amata Public vs. Ratch Group Public
Performance |
Timeline |
Amata Public |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
OK
Ratch Group Public |
Amata Public and Ratch Group Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Amata Public and Ratch Group
The main advantage of trading using opposite Amata Public and Ratch Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amata Public position performs unexpectedly, Ratch Group 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 Ratch Group will offset losses from the drop in Ratch Group's long position.Amata Public vs. Supalai Public | Amata Public vs. Frasers Property Public | Amata Public vs. Singha Estate Public | Amata Public vs. Areeya Property Public |
Ratch Group vs. Electricity Generating Public | Ratch Group vs. The Siam Cement | Ratch Group 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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
Other Complementary Tools
USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes |