Correlation Between Bentre Aquaproduct and Construction JSC
Can any of the company-specific risk be diversified away by investing in both Bentre Aquaproduct and Construction JSC 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 Bentre Aquaproduct and Construction JSC into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Bentre Aquaproduct Import and Construction JSC No5, you can compare the effects of market volatilities on Bentre Aquaproduct and Construction JSC 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 Bentre Aquaproduct with a short position of Construction JSC. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bentre Aquaproduct and Construction JSC.
Diversification Opportunities for Bentre Aquaproduct and Construction JSC
-0.17 | Correlation Coefficient |
Good diversification
The 3 months correlation between Bentre and Construction is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding Bentre Aquaproduct Import and Construction JSC No5 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Construction JSC No5 and Bentre Aquaproduct 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 Bentre Aquaproduct Import are associated (or correlated) with Construction JSC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Construction JSC No5 has no effect on the direction of Bentre Aquaproduct i.e., Bentre Aquaproduct and Construction JSC go up and down completely randomly.
Pair Corralation between Bentre Aquaproduct and Construction JSC
Assuming the 90 days trading horizon Bentre Aquaproduct Import is expected to generate 0.19 times more return on investment than Construction JSC. However, Bentre Aquaproduct Import is 5.15 times less risky than Construction JSC. It trades about 0.08 of its potential returns per unit of risk. Construction JSC No5 is currently generating about 0.0 per unit of risk. If you would invest 3,925,000 in Bentre Aquaproduct Import on October 26, 2024 and sell it today you would earn a total of 150,000 from holding Bentre Aquaproduct Import or generate 3.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 63.64% |
| Values | Daily Returns |
Bentre Aquaproduct Import vs. Construction JSC No5
Performance |
| Timeline |
| Bentre Aquaproduct Import |
| Construction JSC No5 |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Bentre Aquaproduct and Construction JSC Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bentre Aquaproduct and Construction JSC
The main advantage of trading using opposite Bentre Aquaproduct and Construction JSC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bentre Aquaproduct position performs unexpectedly, Construction JSC 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 Construction JSC will offset losses from the drop in Construction JSC's long position.| Bentre Aquaproduct vs. FIT INVEST JSC | Bentre Aquaproduct vs. Damsan JSC | Bentre Aquaproduct vs. An Phat Plastic | Bentre Aquaproduct vs. APG Securities Joint |
| Construction JSC vs. TDT Investment and | Construction JSC vs. Dinhvu Port Investment | Construction JSC vs. Saigon Telecommunication Technologies | Construction JSC vs. VTC Telecommunications 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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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