Correlation Between PTG Energy and Bangkok Life
Can any of the company-specific risk be diversified away by investing in both PTG Energy and Bangkok Life 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 PTG Energy and Bangkok Life into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between PTG Energy Public and Bangkok Life Assurance, you can compare the effects of market volatilities on PTG Energy and Bangkok Life 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 PTG Energy with a short position of Bangkok Life. Check out your portfolio center. Please also check ongoing floating volatility patterns of PTG Energy and Bangkok Life.
Diversification Opportunities for PTG Energy and Bangkok Life
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between PTG and Bangkok is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding PTG Energy Public and Bangkok Life Assurance in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bangkok Life Assurance and PTG Energy 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 PTG Energy Public are associated (or correlated) with Bangkok Life. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bangkok Life Assurance has no effect on the direction of PTG Energy i.e., PTG Energy and Bangkok Life go up and down completely randomly.
Pair Corralation between PTG Energy and Bangkok Life
If you would invest 0.00 in Bangkok Life Assurance on February 3, 2024 and sell it today you would earn a total of 0.00 from holding Bangkok Life Assurance or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 5.56% |
Values | Daily Returns |
PTG Energy Public vs. Bangkok Life Assurance
Performance |
Timeline |
PTG Energy Public |
Bangkok Life Assurance |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
PTG Energy and Bangkok Life Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with PTG Energy and Bangkok Life
The main advantage of trading using opposite PTG Energy and Bangkok Life positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PTG Energy position performs unexpectedly, Bangkok Life 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 Bangkok Life will offset losses from the drop in Bangkok Life's long position.PTG Energy vs. Gunkul Engineering Public | PTG Energy vs. Gulf Energy Development | PTG Energy vs. Ekarat Engineering Public | PTG Energy vs. IRPC Public |
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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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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