Correlation Between Project Planning and Cho Thavee

Can any of the company-specific risk be diversified away by investing in both Project Planning and Cho Thavee 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 Project Planning and Cho Thavee into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Project Planning Service and Cho Thavee Public, you can compare the effects of market volatilities on Project Planning and Cho Thavee 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 Project Planning with a short position of Cho Thavee. Check out your portfolio center. Please also check ongoing floating volatility patterns of Project Planning and Cho Thavee.

Diversification Opportunities for Project Planning and Cho Thavee

-0.53

Correlation Coefficient

Project Planning  Cho Thavee

Excellent diversification

The 3 months correlation between Project and Cho is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding Project Planning Service and Cho Thavee Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cho Thavee Public and Project Planning 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 Project Planning Service are associated (or correlated) with Cho Thavee. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cho Thavee Public has no effect on the direction of Project Planning i.e., Project Planning and Cho Thavee go up and down completely randomly.

Pair Corralation between Project Planning and Cho Thavee

Assuming the 90 days trading horizon Project Planning Service is expected to generate 0.42 times more return on investment than Cho Thavee. However, Project Planning Service is 2.4 times less risky than Cho Thavee. It trades about 0.18 of its potential returns per unit of risk. Cho Thavee Public is currently generating about -0.08 per unit of risk. If you would invest  16.00  in Project Planning Service on April 22, 2025 and sell it today you would earn a total of  10.00  from holding Project Planning Service or generate 62.5% return on investment over 90 days.

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

Project Planning Service  vs.  Cho Thavee Public

Project Planning Service

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Project Planning Service are ranked lower than 14 (%) of all global equities and portfolios over the last 90 days. Despite quite conflicting basic indicators, Project Planning disclosed solid returns over the last few months and may actually be approaching a breakup point.

Cho Thavee Public

Risk-Adjusted Performance

Very Weak

Over the last 90 days Cho Thavee Public has generated negative risk-adjusted returns adding no value to investors with long positions. Despite weak performance in the last few months, the Stock's basic indicators remain quite persistent which may send shares a bit higher in August 2025. The latest mess may also be a sign of long-standing up-swing for the company institutional investors.

Pair Trading with Project Planning and Cho Thavee

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

The idea behind Project Planning Service and Cho Thavee Public 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.

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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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.