Correlation Between APG Securities and Binh Duong
Can any of the company-specific risk be diversified away by investing in both APG Securities and Binh Duong 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 Binh Duong 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 Binh Duong Construction, you can compare the effects of market volatilities on APG Securities and Binh Duong 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 Binh Duong. Check out your portfolio center. Please also check ongoing floating volatility patterns of APG Securities and Binh Duong.
Diversification Opportunities for APG Securities and Binh Duong
-0.74 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between APG and Binh is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding APG Securities Joint and Binh Duong Construction in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Binh Duong Construction 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 Binh Duong. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Binh Duong Construction has no effect on the direction of APG Securities i.e., APG Securities and Binh Duong go up and down completely randomly.
Pair Corralation between APG Securities and Binh Duong
Assuming the 90 days trading horizon APG Securities Joint is expected to generate 2.45 times more return on investment than Binh Duong. However, APG Securities is 2.45 times more volatile than Binh Duong Construction. It trades about 0.55 of its potential returns per unit of risk. Binh Duong Construction is currently generating about 0.38 per unit of risk. If you would invest 585,000 in APG Securities Joint on November 8, 2024 and sell it today you would earn a total of 268,000 from holding APG Securities Joint or generate 45.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
APG Securities Joint vs. Binh Duong Construction
Performance |
| Timeline |
| APG Securities Joint |
| Binh Duong Construction |
APG Securities and Binh Duong Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with APG Securities and Binh Duong
The main advantage of trading using opposite APG Securities and Binh Duong positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if APG Securities position performs unexpectedly, Binh Duong 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 Binh Duong will offset losses from the drop in Binh Duong's long position.| APG Securities vs. Hochiminh City Metal | APG Securities vs. Investment and Industrial | APG Securities vs. Innovative Technology Development | APG Securities vs. Post and Telecommunications |
| Binh Duong vs. Innovative Technology Development | Binh Duong vs. Hcd Investment Producing | Binh Duong vs. PetroVietnam Transportation Corp | Binh Duong vs. Japan Vietnam Medical |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
Other Complementary Tools
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities |