Correlation Between Intouch Holdings and Thoresen Thai
Specify exactly 2 symbols:
By analyzing existing cross correlation between Intouch Holdings Public and Thoresen Thai Agencies, you can compare the effects of market volatilities on Intouch Holdings and Thoresen Thai 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 Thoresen Thai. Check out your portfolio center. Please also check ongoing floating volatility patterns of Intouch Holdings and Thoresen Thai.
Diversification Opportunities for Intouch Holdings and Thoresen Thai
-0.65 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Intouch and Thoresen is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding Intouch Holdings Public and Thoresen Thai Agencies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thoresen Thai Agencies 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 Thoresen Thai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Thoresen Thai Agencies has no effect on the direction of Intouch Holdings i.e., Intouch Holdings and Thoresen Thai go up and down completely randomly.
Pair Corralation between Intouch Holdings and Thoresen Thai
Assuming the 90 days trading horizon Intouch Holdings Public is expected to generate 0.87 times more return on investment than Thoresen Thai. However, Intouch Holdings Public is 1.15 times less risky than Thoresen Thai. It trades about 0.1 of its potential returns per unit of risk. Thoresen Thai Agencies is currently generating about -0.01 per unit of risk. If you would invest 8,925 in Intouch Holdings Public on September 14, 2024 and sell it today you would earn a total of 1,075 from holding Intouch Holdings Public or generate 12.04% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Intouch Holdings Public vs. Thoresen Thai Agencies
Performance |
Timeline |
Intouch Holdings Public |
Thoresen Thai Agencies |
Intouch Holdings and Thoresen Thai Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Intouch Holdings and Thoresen Thai
The main advantage of trading using opposite Intouch Holdings and Thoresen Thai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Intouch Holdings position performs unexpectedly, Thoresen Thai 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 Thoresen Thai will offset losses from the drop in Thoresen Thai's long position.Intouch Holdings vs. Hana Microelectronics Public | Intouch Holdings vs. Ekachai Medical Care | Intouch Holdings vs. Megachem Public | Intouch Holdings vs. Diamond Building Products |
Thoresen Thai vs. Tata Steel Public | Thoresen Thai vs. TTCL Public | Thoresen Thai vs. Thaifoods Group Public | Thoresen Thai vs. TMT Steel Public |
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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
Other Complementary Tools
Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios |