Correlation Between Delta Electronics and Thai Credit
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By analyzing existing cross correlation between Delta Electronics Public and Thai Credit Pcl, you can compare the effects of market volatilities on Delta Electronics and Thai Credit 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 Delta Electronics with a short position of Thai Credit. Check out your portfolio center. Please also check ongoing floating volatility patterns of Delta Electronics and Thai Credit.
Diversification Opportunities for Delta Electronics and Thai Credit
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Delta and Thai is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Delta Electronics Public and Thai Credit Pcl in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thai Credit Pcl and Delta Electronics 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 Delta Electronics Public are associated (or correlated) with Thai Credit. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Thai Credit Pcl has no effect on the direction of Delta Electronics i.e., Delta Electronics and Thai Credit go up and down completely randomly.
Pair Corralation between Delta Electronics and Thai Credit
Assuming the 90 days trading horizon Delta Electronics Public is expected to generate 7.81 times more return on investment than Thai Credit. However, Delta Electronics is 7.81 times more volatile than Thai Credit Pcl. It trades about 0.22 of its potential returns per unit of risk. Thai Credit Pcl is currently generating about -0.72 per unit of risk. If you would invest 9,920 in Delta Electronics Public on September 16, 2024 and sell it today you would earn a total of 5,230 from holding Delta Electronics Public or generate 52.72% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Delta Electronics Public vs. Thai Credit Pcl
Performance |
Timeline |
Delta Electronics Public |
Thai Credit Pcl |
Delta Electronics and Thai Credit Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Delta Electronics and Thai Credit
The main advantage of trading using opposite Delta Electronics and Thai Credit positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Delta Electronics position performs unexpectedly, Thai Credit 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 Thai Credit will offset losses from the drop in Thai Credit's long position.Delta Electronics vs. Delta Electronics Public | Delta Electronics vs. PTT Public | Delta Electronics vs. CP ALL Public | Delta Electronics vs. The Siam Commercial |
Thai Credit vs. Delta Electronics Public | Thai Credit vs. Delta Electronics Public | Thai Credit vs. Airports of Thailand | Thai Credit vs. Airports of Thailand |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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