Correlation Between Vintcom Technology and Thanapiriya Public

Can any of the company-specific risk be diversified away by investing in both Vintcom Technology and Thanapiriya Public 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 Vintcom Technology and Thanapiriya Public into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Vintcom Technology PCL and Thanapiriya Public, you can compare the effects of market volatilities on Vintcom Technology and Thanapiriya Public 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 Vintcom Technology with a short position of Thanapiriya Public. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vintcom Technology and Thanapiriya Public.

Diversification Opportunities for Vintcom Technology and Thanapiriya Public

-0.09

Correlation Coefficient

Vintcom Technology  Thanapiriya Public

Good diversification

The 3 months correlation between Vintcom and Thanapiriya is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding Vintcom Technology PCL and Thanapiriya Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thanapiriya Public and Vintcom Technology 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 Vintcom Technology PCL are associated (or correlated) with Thanapiriya Public. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Thanapiriya Public has no effect on the direction of Vintcom Technology i.e., Vintcom Technology and Thanapiriya Public go up and down completely randomly.

Pair Corralation between Vintcom Technology and Thanapiriya Public

Assuming the 90 days trading horizon Vintcom Technology PCL is expected to generate 1.76 times more return on investment than Thanapiriya Public. However, Vintcom Technology is 1.76 times more volatile than Thanapiriya Public. It trades about 0.12 of its potential returns per unit of risk. Thanapiriya Public is currently generating about -0.03 per unit of risk. If you would invest  246.00  in Vintcom Technology PCL on April 22, 2025 and sell it today you would earn a total of  46.00  from holding Vintcom Technology PCL or generate 18.7% return on investment over 90 days.

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

Vintcom Technology PCL  vs.  Thanapiriya Public

Vintcom Technology PCL

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Vintcom Technology PCL are ranked lower than 9 (%) of all global equities and portfolios over the last 90 days. Despite quite conflicting forward-looking signals, Vintcom Technology disclosed solid returns over the last few months and may actually be approaching a breakup point.

Thanapiriya Public

Risk-Adjusted Performance

Very Weak

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

Pair Trading with Vintcom Technology and Thanapiriya Public

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

The idea behind Vintcom Technology PCL and Thanapiriya 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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.