Correlation Between Intouch Holdings and PTT Public
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By analyzing existing cross correlation between Intouch Holdings Public and PTT Public, you can compare the effects of market volatilities on Intouch Holdings and PTT 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 Intouch Holdings with a short position of PTT Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intouch Holdings and PTT Public.
Diversification Opportunities for Intouch Holdings and PTT Public
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Intouch and PTT is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Intouch Holdings Public and PTT Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PTT Public and Intouch Holdings 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 Intouch Holdings Public are associated (or correlated) with PTT Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PTT Public has no effect on the direction of Intouch Holdings i.e., Intouch Holdings and PTT Public go up and down completely randomly.
Pair Corralation between Intouch Holdings and PTT Public
Assuming the 90 days trading horizon Intouch Holdings Public is expected to generate 1.39 times more return on investment than PTT Public. However, Intouch Holdings is 1.39 times more volatile than PTT Public. It trades about 0.04 of its potential returns per unit of risk. PTT Public is currently generating about 0.03 per unit of risk. If you would invest 6,222 in Intouch Holdings Public on December 2, 2024 and sell it today you would earn a total of 1,703 from holding Intouch Holdings Public or generate 27.37% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 99.79% |
Values | Daily Returns |
Intouch Holdings Public vs. PTT Public
Performance |
Timeline |
Intouch Holdings Public |
PTT Public |
Intouch Holdings and PTT Public Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Intouch Holdings and PTT Public
The main advantage of trading using opposite Intouch Holdings and PTT Public positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intouch Holdings position performs unexpectedly, PTT 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 PTT Public will offset losses from the drop in PTT Public's long position.Intouch Holdings vs. True Public | Intouch Holdings vs. CP ALL Public | Intouch Holdings vs. The Siam Cement | Intouch Holdings vs. Charoen Pokphand Foods |
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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 Transaction History module to view history of all your transactions and understand their impact on performance.
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