Correlation Between Intouch Holdings and GULF ENERGY
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By analyzing existing cross correlation between Intouch Holdings Public and GULF ENERGY DEVELOPMENT NVDR, you can compare the effects of market volatilities on Intouch Holdings and GULF ENERGY 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 GULF ENERGY. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intouch Holdings and GULF ENERGY.
Diversification Opportunities for Intouch Holdings and GULF ENERGY
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between Intouch and GULF is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Intouch Holdings Public and GULF ENERGY DEVELOPMENT NVDR in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GULF ENERGY DEVELOPMENT 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 GULF ENERGY. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GULF ENERGY DEVELOPMENT has no effect on the direction of Intouch Holdings i.e., Intouch Holdings and GULF ENERGY go up and down completely randomly.
Pair Corralation between Intouch Holdings and GULF ENERGY
Assuming the 90 days trading horizon Intouch Holdings Public is expected to generate 0.87 times more return on investment than GULF ENERGY. However, Intouch Holdings Public is 1.14 times less risky than GULF ENERGY. It trades about 0.06 of its potential returns per unit of risk. GULF ENERGY DEVELOPMENT NVDR is currently generating about 0.02 per unit of risk. If you would invest 6,795 in Intouch Holdings Public on September 25, 2024 and sell it today you would earn a total of 2,980 from holding Intouch Holdings Public or generate 43.86% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 92.74% |
Values | Daily Returns |
Intouch Holdings Public vs. GULF ENERGY DEVELOPMENT NVDR
Performance |
Timeline |
Intouch Holdings Public |
GULF ENERGY DEVELOPMENT |
Intouch Holdings and GULF ENERGY Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Intouch Holdings and GULF ENERGY
The main advantage of trading using opposite Intouch Holdings and GULF ENERGY positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intouch Holdings position performs unexpectedly, GULF ENERGY 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 GULF ENERGY will offset losses from the drop in GULF ENERGY'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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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