Correlation Between Thaifoods Group and RB FOOD

Can any of the company-specific risk be diversified away by investing in both Thaifoods Group and RB FOOD 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 Thaifoods Group and RB FOOD into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Thaifoods Group Public and RB FOOD SUPPLY, you can compare the effects of market volatilities on Thaifoods Group and RB FOOD 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 Thaifoods Group with a short position of RB FOOD. Check out your portfolio center. Please also check ongoing floating volatility patterns of Thaifoods Group and RB FOOD.

Diversification Opportunities for Thaifoods Group and RB FOOD

-0.26

Correlation Coefficient

Thaifoods Group  RB FOOD

Very good diversification

The 3 months correlation between Thaifoods and RBF-R is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding Thaifoods Group Public and RB FOOD SUPPLY in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on RB FOOD SUPPLY and Thaifoods Group 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 Thaifoods Group Public are associated (or correlated) with RB FOOD. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of RB FOOD SUPPLY has no effect on the direction of Thaifoods Group i.e., Thaifoods Group and RB FOOD go up and down completely randomly.

Pair Corralation between Thaifoods Group and RB FOOD

Assuming the 90 days trading horizon Thaifoods Group Public is expected to generate 0.31 times more return on investment than RB FOOD. However, Thaifoods Group Public is 3.26 times less risky than RB FOOD. It trades about 0.15 of its potential returns per unit of risk. RB FOOD SUPPLY is currently generating about -0.03 per unit of risk. If you would invest  407.00  in Thaifoods Group Public on April 22, 2025 and sell it today you would earn a total of  49.00  from holding Thaifoods Group Public or generate 12.04% return on investment over 90 days.

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

Thaifoods Group Public  vs.  RB FOOD SUPPLY

Thaifoods Group Public

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Thaifoods Group Public are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. Despite somewhat conflicting fundamental drivers, Thaifoods Group sustained solid returns over the last few months and may actually be approaching a breakup point.

RB FOOD SUPPLY

Risk-Adjusted Performance

Very Weak

Over the last 90 days RB FOOD SUPPLY has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest conflicting performance, the Stock's fundamental drivers remain strong and the current disturbance on Wall Street may also be a sign of long term gains for the company investors.

Pair Trading with Thaifoods Group and RB FOOD

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

The idea behind Thaifoods Group Public and RB FOOD SUPPLY 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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.