Correlation Between WATTANAPAT HOSPITAL and TRUE CORPORATION

By analyzing existing cross correlation between WATTANAPAT HOSPITAL TRANG and TRUE CORPORATION PUBLIC you can compare the effects of market volatilities on WATTANAPAT HOSPITAL and TRUE CORPORATION 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 WATTANAPAT HOSPITAL with a short position of TRUE CORPORATION. Check out your portfolio center. Please also check ongoing floating volatility patterns of WATTANAPAT HOSPITAL and TRUE CORPORATION.

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Can any of the company-specific risk be diversified away by investing in both WATTANAPAT HOSPITAL and TRUE CORPORATION at the same time? Although using correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combing WATTANAPAT HOSPITAL and TRUE CORPORATION into the same portfolio which is an essential part of fundamental portfolio management process.

Diversification Opportunities for WATTANAPAT HOSPITAL and TRUE CORPORATION

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Correlation
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Pay attention - limited upside

The 3 months correlation between WATTANAPAT and TRUE CORPORATION is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding WATTANAPAT HOSPITAL TRANG PUBL and TRUE CORPORATION PUBLIC COMPAN in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on TRUE CORPORATION PUBLIC and WATTANAPAT HOSPITAL 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 WATTANAPAT HOSPITAL TRANG are associated (or correlated) with TRUE CORPORATION. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TRUE CORPORATION PUBLIC has no effect on the direction of WATTANAPAT HOSPITAL i.e. WATTANAPAT HOSPITAL and TRUE CORPORATION go up and down completely randomly.

Pair Corralation between WATTANAPAT HOSPITAL and TRUE CORPORATION

If you would invest  332.00  in TRUE CORPORATION PUBLIC on April 28, 2020 and sell it today you would earn a total of  48.00  from holding TRUE CORPORATION PUBLIC or generate 14.46% return on investment over 30 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy2.13%
ValuesDaily Returns

WATTANAPAT HOSPITAL TRANG PUBL  vs.  TRUE CORPORATION PUBLIC COMPAN

 Performance (%) 
      Timeline 
WATTANAPAT HOSPITAL 
00

WATTANAPAT HOSPITAL Risk-Adjusted Performance

Over the last 30 days WATTANAPAT HOSPITAL TRANG has generated negative risk-adjusted returns adding no value to investors with long positions. Regardless of fairly consistent technical and fundamental indicators, WATTANAPAT HOSPITAL is not utilizing all of its potentials. The current stock price confusion, may contribute to short-horizon losses for the traders.
TRUE CORPORATION PUBLIC 
55

TRUE CORPORATION Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in TRUE CORPORATION PUBLIC are ranked lower than 5 (%) of all global equities and portfolios over the last 30 days. Regardless of fairly inconsistent technical and fundamental indicators, TRUE CORPORATION demonstrated solid returns over the last few months and may actually be approaching a breakup point.

WATTANAPAT HOSPITAL and TRUE CORPORATION Volatility Contrast

 Predicted Return Density 
      Returns 
Check out your portfolio center. Please also try Price Ceiling Movement module to calculate and plot price ceiling movement for different equity instruments.


 
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