Correlation Between Bangkok Life and Ichitan Group
Can any of the company-specific risk be diversified away by investing in both Bangkok Life and Ichitan Group 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 Bangkok Life and Ichitan Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bangkok Life Assurance and Ichitan Group Public, you can compare the effects of market volatilities on Bangkok Life and Ichitan Group 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 Bangkok Life with a short position of Ichitan Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bangkok Life and Ichitan Group.
Diversification Opportunities for Bangkok Life and Ichitan Group
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bangkok and Ichitan is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Bangkok Life Assurance and Ichitan Group Public in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ichitan Group Public and Bangkok Life 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 Bangkok Life Assurance are associated (or correlated) with Ichitan Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ichitan Group Public has no effect on the direction of Bangkok Life i.e., Bangkok Life and Ichitan Group go up and down completely randomly.
Pair Corralation between Bangkok Life and Ichitan Group
If you would invest 1,720 in Bangkok Life Assurance on March 5, 2024 and sell it today you would earn a total of 330.00 from holding Bangkok Life Assurance or generate 19.19% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 87.93% |
Values | Daily Returns |
Bangkok Life Assurance vs. Ichitan Group Public
Performance |
Timeline |
Bangkok Life Assurance |
Ichitan Group Public |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Bangkok Life and Ichitan Group Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Bangkok Life and Ichitan Group
The main advantage of trading using opposite Bangkok Life and Ichitan Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bangkok Life position performs unexpectedly, Ichitan Group 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 Ichitan Group will offset losses from the drop in Ichitan Group's long position.Bangkok Life vs. Ocean Glass Public | Bangkok Life vs. Pan Asia Footwear | Bangkok Life vs. Nonthavej Hospital Public | Bangkok Life vs. Newcity Public |
Ichitan Group vs. Srisawad Power 1979 | Ichitan Group vs. Bangkok Life Assurance | Ichitan Group vs. JMT Network Services | Ichitan Group vs. Muangthai Capital 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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
Other Complementary Tools
Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
Commodity Directory Find actively traded commodities issued by global exchanges | |
Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine | |
Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets |