Correlation Between Kingsmen CMTI and Moong Pattana

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

By analyzing existing cross correlation between Kingsmen CMTI Public and Moong Pattana International, you can compare the effects of market volatilities on Kingsmen CMTI and Moong Pattana 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 Kingsmen CMTI with a short position of Moong Pattana. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kingsmen CMTI and Moong Pattana.

Diversification Opportunities for Kingsmen CMTI and Moong Pattana

-0.4

Correlation Coefficient

Kingsmen CMTI  Moong Pattana

Very good diversification

The 3 months correlation between Kingsmen and Moong is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Kingsmen CMTI Public and Moong Pattana International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Moong Pattana Intern and Kingsmen CMTI 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 Kingsmen CMTI Public are associated (or correlated) with Moong Pattana. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Moong Pattana Intern has no effect on the direction of Kingsmen CMTI i.e., Kingsmen CMTI and Moong Pattana go up and down completely randomly.

Pair Corralation between Kingsmen CMTI and Moong Pattana

Given the investment horizon of 90 days Kingsmen CMTI Public is expected to under-perform the Moong Pattana. In addition to that, Kingsmen CMTI is 2.47 times more volatile than Moong Pattana International. It trades about -0.03 of its total potential returns per unit of risk. Moong Pattana International is currently generating about 0.1 per unit of volatility. If you would invest  179.00  in Moong Pattana International on April 25, 2025 and sell it today you would earn a total of  11.00  from holding Moong Pattana International or generate 6.15% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

Kingsmen CMTI Public  vs.  Moong Pattana International

Kingsmen CMTI Public

Risk-Adjusted Performance

Very Weak

Over the last 90 days Kingsmen CMTI Public has generated negative risk-adjusted returns adding no value to investors with long positions. Despite quite persistent fundamental drivers, Kingsmen CMTI is not utilizing all of its potentials. The latest stock price mess, may contribute to short-term losses for the institutional investors.

Moong Pattana Intern

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Moong Pattana International are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. Despite somewhat conflicting fundamental drivers, Moong Pattana may actually be approaching a critical reversion point that can send shares even higher in August 2025.

Pair Trading with Kingsmen CMTI and Moong Pattana

The main advantage of trading using opposite Kingsmen CMTI and Moong Pattana positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kingsmen CMTI position performs unexpectedly, Moong Pattana 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 Moong Pattana will offset losses from the drop in Moong Pattana's long position.

The idea behind Kingsmen CMTI Public and Moong Pattana International pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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 CEOs Directory module to screen CEOs from public companies around the world.