Correlation Between APG Securities and Bentre Aquaproduct
Can any of the company-specific risk be diversified away by investing in both APG Securities and Bentre Aquaproduct 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 APG Securities and Bentre Aquaproduct into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between APG Securities Joint and Bentre Aquaproduct Import, you can compare the effects of market volatilities on APG Securities and Bentre Aquaproduct 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 APG Securities with a short position of Bentre Aquaproduct. Check out your portfolio center. Please also check ongoing floating volatility patterns of APG Securities and Bentre Aquaproduct.
Diversification Opportunities for APG Securities and Bentre Aquaproduct
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between APG and Bentre is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding APG Securities Joint and Bentre Aquaproduct Import in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bentre Aquaproduct Import and APG Securities 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 APG Securities Joint are associated (or correlated) with Bentre Aquaproduct. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bentre Aquaproduct Import has no effect on the direction of APG Securities i.e., APG Securities and Bentre Aquaproduct go up and down completely randomly.
Pair Corralation between APG Securities and Bentre Aquaproduct
Assuming the 90 days trading horizon APG Securities Joint is expected to under-perform the Bentre Aquaproduct. But the stock apears to be less risky and, when comparing its historical volatility, APG Securities Joint is 1.9 times less risky than Bentre Aquaproduct. The stock trades about -0.12 of its potential returns per unit of risk. The Bentre Aquaproduct Import is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 3,925,000 in Bentre Aquaproduct Import on August 27, 2024 and sell it today you would earn a total of 30,000 from holding Bentre Aquaproduct Import or generate 0.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.48% |
| Values | Daily Returns |
APG Securities Joint vs. Bentre Aquaproduct Import
Performance |
| Timeline |
| APG Securities Joint |
| Bentre Aquaproduct Import |
APG Securities and Bentre Aquaproduct Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with APG Securities and Bentre Aquaproduct
The main advantage of trading using opposite APG Securities and Bentre Aquaproduct positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if APG Securities position performs unexpectedly, Bentre Aquaproduct 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 Bentre Aquaproduct will offset losses from the drop in Bentre Aquaproduct's long position.| APG Securities vs. FIT INVEST JSC | APG Securities vs. Damsan JSC | APG Securities vs. An Phat Plastic | APG Securities vs. Binhthuan Agriculture Services |
| Bentre Aquaproduct vs. FIT INVEST JSC | Bentre Aquaproduct vs. Damsan JSC | Bentre Aquaproduct vs. An Phat Plastic | Bentre Aquaproduct vs. APG Securities Joint |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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