Correlation Between Sixt Leasing and PTT Global
Can any of the company-specific risk be diversified away by investing in both Sixt Leasing 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 Sixt Leasing and PTT Global into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Sixt Leasing SE and PTT Global Chemical, you can compare the effects of market volatilities on Sixt Leasing 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 Sixt Leasing with a short position of PTT Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sixt Leasing and PTT Global.
Diversification Opportunities for Sixt Leasing and PTT Global
0.4 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Sixt and PTT is 0.4. Overlapping area represents the amount of risk that can be diversified away by holding Sixt Leasing SE 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 Sixt Leasing 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 Sixt Leasing SE 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 Sixt Leasing i.e., Sixt Leasing and PTT Global go up and down completely randomly.
Pair Corralation between Sixt Leasing and PTT Global
Assuming the 90 days trading horizon Sixt Leasing is expected to generate 2.54 times less return on investment than PTT Global. But when comparing it to its historical volatility, Sixt Leasing SE is 1.36 times less risky than PTT Global. It trades about 0.05 of its potential returns per unit of risk. PTT Global Chemical is currently generating about 0.08 of returns per unit of risk over similar time horizon. If you would invest 52.00 in PTT Global Chemical on July 16, 2025 and sell it today you would earn a total of 8.00 from holding PTT Global Chemical or generate 15.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 98.46% |
| Values | Daily Returns |
Sixt Leasing SE vs. PTT Global Chemical
Performance |
| Timeline |
| Sixt Leasing SE |
| PTT Global Chemical |
Sixt Leasing and PTT Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sixt Leasing and PTT Global
The main advantage of trading using opposite Sixt Leasing and PTT Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sixt Leasing 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.| Sixt Leasing vs. Melco Resorts Entertainment | Sixt Leasing vs. Ming Le Sports | Sixt Leasing vs. HIGH QUALITY FOOD | Sixt Leasing vs. Tencent Music Entertainment |
| PTT Global vs. CarsalesCom | PTT Global vs. SALESFORCE INC CDR | PTT Global vs. Lamar Advertising | PTT Global vs. United Natural Foods |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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