Correlation Between APG Securities and Cuulong Fish
Can any of the company-specific risk be diversified away by investing in both APG Securities and Cuulong Fish 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 Cuulong Fish 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 Cuulong Fish JSC, you can compare the effects of market volatilities on APG Securities and Cuulong Fish 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 Cuulong Fish. Check out your portfolio center. Please also check ongoing floating volatility patterns of APG Securities and Cuulong Fish.
Diversification Opportunities for APG Securities and Cuulong Fish
0.37 | Correlation Coefficient |
Weak diversification
The 3 months correlation between APG and Cuulong is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding APG Securities Joint and Cuulong Fish JSC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cuulong Fish JSC 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 Cuulong Fish. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cuulong Fish JSC has no effect on the direction of APG Securities i.e., APG Securities and Cuulong Fish go up and down completely randomly.
Pair Corralation between APG Securities and Cuulong Fish
Assuming the 90 days trading horizon APG Securities Joint is expected to generate 1.39 times more return on investment than Cuulong Fish. However, APG Securities is 1.39 times more volatile than Cuulong Fish JSC. It trades about 0.05 of its potential returns per unit of risk. Cuulong Fish JSC is currently generating about 0.01 per unit of risk. If you would invest 597,000 in APG Securities Joint on August 26, 2024 and sell it today you would earn a total of 319,000 from holding APG Securities Joint or generate 53.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
APG Securities Joint vs. Cuulong Fish JSC
Performance |
| Timeline |
| APG Securities Joint |
| Cuulong Fish JSC |
APG Securities and Cuulong Fish Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with APG Securities and Cuulong Fish
The main advantage of trading using opposite APG Securities and Cuulong Fish positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if APG Securities position performs unexpectedly, Cuulong Fish 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 Cuulong Fish will offset losses from the drop in Cuulong Fish's long position.| APG Securities vs. Vietnam JSCmmercial Bank | APG Securities vs. TDG Global Investment | APG Securities vs. BaoMinh Insurance Corp | APG Securities vs. Development Investment Construction |
| Cuulong Fish vs. FIT INVEST JSC | Cuulong Fish vs. Damsan JSC | Cuulong Fish vs. An Phat Plastic | Cuulong Fish 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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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