Correlation Between An Phat and Foreign Trade
Can any of the company-specific risk be diversified away by investing in both An Phat and Foreign Trade 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 An Phat and Foreign Trade into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between An Phat Plastic and Foreign Trade Development, you can compare the effects of market volatilities on An Phat and Foreign Trade 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 An Phat with a short position of Foreign Trade. Check out your portfolio center. Please also check ongoing floating volatility patterns of An Phat and Foreign Trade.
Diversification Opportunities for An Phat and Foreign Trade
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between AAA and Foreign is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding An Phat Plastic and Foreign Trade Development in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Foreign Trade Development and An Phat 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 An Phat Plastic are associated (or correlated) with Foreign Trade. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Foreign Trade Development has no effect on the direction of An Phat i.e., An Phat and Foreign Trade go up and down completely randomly.
Pair Corralation between An Phat and Foreign Trade
If you would invest 1,690,000 in Foreign Trade Development on October 29, 2024 and sell it today you would earn a total of 0.00 from holding Foreign Trade Development or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 35.0% |
| Values | Daily Returns |
An Phat Plastic vs. Foreign Trade Development
Performance |
| Timeline |
| An Phat Plastic |
| Foreign Trade Development |
An Phat and Foreign Trade Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with An Phat and Foreign Trade
The main advantage of trading using opposite An Phat and Foreign Trade positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if An Phat position performs unexpectedly, Foreign Trade 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 Foreign Trade will offset losses from the drop in Foreign Trade's long position.| An Phat vs. Tin Nghia Industrial | An Phat vs. Post and Telecommunications | An Phat vs. Hochiminh City Metal | An Phat vs. Long An Food |
| Foreign Trade vs. Nam Kim Steel | Foreign Trade vs. Fecon Mining JSC | Foreign Trade vs. Dinhvu Port Investment | Foreign Trade vs. PV2 Investment JSC |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
Other Complementary Tools
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance |