Correlation Between WATTANAPAT HOSPITAL and Target

By analyzing existing cross correlation between WATTANAPAT HOSPITAL TRANG and Target you can compare the effects of market volatilities on WATTANAPAT HOSPITAL and Target 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 WATTANAPAT HOSPITAL with a short position of Target. Check out your portfolio center. Please also check ongoing floating volatility patterns of WATTANAPAT HOSPITAL and Target.

Specify exactly 2 symbols:

Can any of the company-specific risk be diversified away by investing in both WATTANAPAT HOSPITAL and Target at the same time? Although using correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combing WATTANAPAT HOSPITAL and Target into the same portfolio which is an essential part of fundamental portfolio management process.

Diversification Opportunities for WATTANAPAT HOSPITAL and Target

0.0
Correlation
<div class='circular--portrait-small' style='font-weight: 700;background:#FF6600;color: #FFFAFA;font-size:1.1em;padding-top: 10px;;'>WH</div>
<div class='circular--portrait-small' style='font-weight: 700;background:#FF0F00;color: #FFFFF0;font-size:0.9em;padding-top: 12px;;'>TGT</div>

Pay attention - limited upside

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

Pair Corralation between WATTANAPAT HOSPITAL and Target

If you would invest  10,403  in Target on May 7, 2020 and sell it today you would earn a total of  1,750  from holding Target or generate 16.82% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

WATTANAPAT HOSPITAL TRANG PUBL  vs.  Target Corp.

 Performance (%) 
      Timeline 
WATTANAPAT HOSPITAL 
00

WATTANAPAT HOSPITAL Risk-Adjusted Performance

Over the last 30 days WATTANAPAT HOSPITAL TRANG has generated negative risk-adjusted returns adding no value to investors with long positions. Regardless of fairly consistent technical and fundamental indicators, WATTANAPAT HOSPITAL is not utilizing all of its potentials. The current stock price confusion, may contribute to short-horizon losses for the traders.
Target 
55

Target Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Target are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. In spite of comparatively weak essential indicators, Target unveiled solid returns over the last few months and may actually be approaching a breakup point.

WATTANAPAT HOSPITAL and Target Volatility Contrast

Check out your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.


 
Macroaxis is not a registered investment advisor or broker/dealer. All investments, including stocks, funds, ETFs, or cryptocurrencies, are speculative and involve substantial risk of loss. We encourage our investors to invest carefully. Much of our information is derived directly from data published by companies or submitted to governmental agencies which we believe are reliable, but are without our independent verification. Therefore, we cannot assure you that the information is accurate or complete. We do not in any way warrant or guarantee the success of any action you take in reliance on our statements or recommendations. Also, note that past performance is not necessarily indicative of future results. All investments carry risk, and all investment decisions of an individual remain the responsibility of that individual. There is no guarantee that systems, indicators, or signals will result in profits or that they will not result in losses. All investors are advised to fully understand all risks associated with any investing they choose to do. Hypothetical or simulated performance is not indicative of future results. We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown because hypothetical or simulated performance is not necessarily indicative of future results. For more information please visit our terms and condition page