Correlation Between Siam Cement and CP ALL
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By analyzing existing cross correlation between The Siam Cement and CP ALL Public, you can compare the effects of market volatilities on Siam Cement and CP ALL 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 Siam Cement with a short position of CP ALL. Check out your portfolio center. Please also check ongoing floating volatility patterns of Siam Cement and CP ALL.
Diversification Opportunities for Siam Cement and CP ALL
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Siam and CPALL-R is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding The Siam Cement and CP ALL Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CP ALL Public and Siam Cement 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 The Siam Cement are associated (or correlated) with CP ALL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CP ALL Public has no effect on the direction of Siam Cement i.e., Siam Cement and CP ALL go up and down completely randomly.
Pair Corralation between Siam Cement and CP ALL
Assuming the 90 days trading horizon The Siam Cement is expected to generate 2.36 times more return on investment than CP ALL. However, Siam Cement is 2.36 times more volatile than CP ALL Public. It trades about 0.3 of its potential returns per unit of risk. CP ALL Public is currently generating about 0.38 per unit of risk. If you would invest 15,600 in The Siam Cement on April 23, 2025 and sell it today you would earn a total of 3,500 from holding The Siam Cement or generate 22.44% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Insignificant |
Accuracy | 95.24% |
Values | Daily Returns |
The Siam Cement vs. CP ALL Public
Performance |
Timeline |
Siam Cement |
CP ALL Public |
Siam Cement and CP ALL Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Siam Cement and CP ALL
The main advantage of trading using opposite Siam Cement and CP ALL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Siam Cement position performs unexpectedly, CP ALL 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 CP ALL will offset losses from the drop in CP ALL's long position.The idea behind The Siam Cement and CP ALL 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.CP ALL vs. CP ALL Public | CP ALL vs. Charoen Pokphand Foods | CP ALL vs. Bangkok Dusit Medical | CP ALL vs. PTT 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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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