Correlation Between INDO THAI and Apple

By analyzing existing cross correlation between INDO THAI SECURITI and Apple Inc, you can compare the effects of market volatilities on INDO THAI and Apple 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 INDO THAI with a short position of Apple. Check out your portfolio center. Please also check ongoing floating volatility patterns of INDO THAI and Apple.

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Can any of the company-specific risk be diversified away by investing in both INDO THAI and Apple 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 INDO THAI and Apple into the same portfolio, which is an essential part of the fundamental portfolio management process.

Diversification Opportunities for INDO THAI and Apple

0.0
  Correlation Coefficient
INDO THAI SECURITI
Apple Inc

Pay attention - limited upside

The 3 months correlation between INDOTHAI and Apple is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding INDO THAI SECURITI and Apple Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Apple Inc and INDO THAI 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 INDO THAI SECURITI are associated (or correlated) with Apple. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Apple Inc has no effect on the direction of INDO THAI i.e. INDO THAI and Apple go up and down completely randomly.

Pair Corralation between INDO THAI and Apple

If you would invest  26,799  in Apple Inc on June 8, 2020 and sell it today you would earn a total of  10,470  from holding Apple Inc or generate 39.07% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

INDO THAI SECURITI  vs.  Apple Inc

 Performance (%) 
      Timeline 
INDO THAI SECURITI 
00

INDO THAI Risk-Adjusted Performance

Over the last 30 days INDO THAI SECURITI has generated negative risk-adjusted returns adding no value to investors with long positions. Despite somewhat strong basic indicators, INDO THAI is not utilizing all of its potentials. The current stock price disturbance, may contribute to short term losses for the investors.
Apple Inc 
2121

Apple Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Apple Inc are ranked lower than 21 (%) of all global equities and portfolios over the last 30 days. Even with considerably weak technical indicators, Apple revealed solid returns over the last few months and may actually be approaching a breakup point.

INDO THAI and Apple Volatility Contrast

Check out your portfolio center. Please also try Equity Valuation module to check real value of public entities based on technical and fundamental data.


 
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