Correlation Between Advanced Info and Siam City
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By analyzing existing cross correlation between Advanced Info Service and Siam City Cement, you can compare the effects of market volatilities on Advanced Info and Siam City 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 Advanced Info with a short position of Siam City. Check out your portfolio center. Please also check ongoing floating volatility patterns of Advanced Info and Siam City.
Diversification Opportunities for Advanced Info and Siam City
0.31 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Advanced and Siam is 0.31. Overlapping area represents the amount of risk that can be diversified away by holding Advanced Info Service and Siam City Cement in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Siam City Cement and Advanced Info 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 Advanced Info Service are associated (or correlated) with Siam City. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Siam City Cement has no effect on the direction of Advanced Info i.e., Advanced Info and Siam City go up and down completely randomly.
Pair Corralation between Advanced Info and Siam City
Assuming the 90 days trading horizon Advanced Info Service is expected to generate 0.88 times more return on investment than Siam City. However, Advanced Info Service is 1.13 times less risky than Siam City. It trades about -0.13 of its potential returns per unit of risk. Siam City Cement is currently generating about -0.17 per unit of risk. If you would invest 22,216 in Advanced Info Service on March 13, 2024 and sell it today you would lose (1,316) from holding Advanced Info Service or give up 5.92% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Weak |
Accuracy | 98.25% |
Values | Daily Returns |
Advanced Info Service vs. Siam City Cement
Performance |
Timeline |
Advanced Info Service |
Siam City Cement |
Advanced Info and Siam City Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Advanced Info and Siam City
The main advantage of trading using opposite Advanced Info and Siam City positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Advanced Info position performs unexpectedly, Siam City 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 Siam City will offset losses from the drop in Siam City's long position.Advanced Info vs. Hana Microelectronics Public | Advanced Info vs. Ekachai Medical Care | Advanced Info vs. Megachem Public | Advanced Info vs. Diamond Building Products |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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