Correlation Between APG Securities and Song Hong
Can any of the company-specific risk be diversified away by investing in both APG Securities and Song Hong 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 Song Hong 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 Song Hong Garment, you can compare the effects of market volatilities on APG Securities and Song Hong 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 Song Hong. Check out your portfolio center. Please also check ongoing floating volatility patterns of APG Securities and Song Hong.
Diversification Opportunities for APG Securities and Song Hong
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between APG and Song is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding APG Securities Joint and Song Hong Garment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Song Hong Garment 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 Song Hong. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Song Hong Garment has no effect on the direction of APG Securities i.e., APG Securities and Song Hong go up and down completely randomly.
Pair Corralation between APG Securities and Song Hong
Assuming the 90 days trading horizon APG Securities Joint is expected to under-perform the Song Hong. In addition to that, APG Securities is 1.61 times more volatile than Song Hong Garment. It trades about -0.15 of its total potential returns per unit of risk. Song Hong Garment is currently generating about 0.1 per unit of volatility. If you would invest 4,485,882 in Song Hong Garment on November 2, 2024 and sell it today you would earn a total of 714,118 from holding Song Hong Garment or generate 15.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
APG Securities Joint vs. Song Hong Garment
Performance |
| Timeline |
| APG Securities Joint |
| Song Hong Garment |
APG Securities and Song Hong Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with APG Securities and Song Hong
The main advantage of trading using opposite APG Securities and Song Hong positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if APG Securities position performs unexpectedly, Song Hong 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 Song Hong will offset losses from the drop in Song Hong's long position.| APG Securities vs. TDT Investment and | APG Securities vs. Ba Ria Thermal | APG Securities vs. Petrolimex International Trading | APG Securities vs. Tng Investment And |
| Song Hong vs. FPT Digital Retail | Song Hong vs. Innovative Technology Development | Song Hong vs. Transport and Industry | Song Hong vs. Saigon Beer Alcohol |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Other Complementary Tools
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Stocks Directory Find actively traded stocks across global markets | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities |