Correlation Between SALESFORCE INC and PTT Global
Can any of the company-specific risk be diversified away by investing in both SALESFORCE INC and PTT Global 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 SALESFORCE INC and PTT Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SALESFORCE INC CDR and PTT Global Chemical, you can compare the effects of market volatilities on SALESFORCE INC and PTT Global 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 SALESFORCE INC with a short position of PTT Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of SALESFORCE INC and PTT Global.
Diversification Opportunities for SALESFORCE INC and PTT Global
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between SALESFORCE and PTT is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding SALESFORCE INC CDR and PTT Global Chemical in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PTT Global Chemical and SALESFORCE INC 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 SALESFORCE INC CDR are associated (or correlated) with PTT Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PTT Global Chemical has no effect on the direction of SALESFORCE INC i.e., SALESFORCE INC and PTT Global go up and down completely randomly.
Pair Corralation between SALESFORCE INC and PTT Global
Assuming the 90 days trading horizon SALESFORCE INC CDR is expected to generate 1.02 times more return on investment than PTT Global. However, SALESFORCE INC is 1.02 times more volatile than PTT Global Chemical. It trades about 0.07 of its potential returns per unit of risk. PTT Global Chemical is currently generating about 0.05 per unit of risk. If you would invest 1,038 in SALESFORCE INC CDR on July 20, 2025 and sell it today you would earn a total of 132.00 from holding SALESFORCE INC CDR or generate 12.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SALESFORCE INC CDR vs. PTT Global Chemical
Performance |
| Timeline |
| SALESFORCE INC CDR |
| PTT Global Chemical |
SALESFORCE INC and PTT Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SALESFORCE INC and PTT Global
The main advantage of trading using opposite SALESFORCE INC and PTT Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SALESFORCE INC position performs unexpectedly, PTT Global 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 PTT Global will offset losses from the drop in PTT Global's long position.| SALESFORCE INC vs. Lifeway Foods | SALESFORCE INC vs. LIFEWAY FOODS | SALESFORCE INC vs. THAI BEVERAGE | SALESFORCE INC vs. GURU ORGANIC ENERGY |
| PTT Global vs. BEAZER HOMES USA | PTT Global vs. Magnachip Semiconductor | PTT Global vs. ON SEMICONDUCTOR | PTT Global vs. LEONS FURNITURE |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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