Correlation Between APG Securities and Viet Thanh
Can any of the company-specific risk be diversified away by investing in both APG Securities and Viet Thanh 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 Viet Thanh 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 Viet Thanh Plastic, you can compare the effects of market volatilities on APG Securities and Viet Thanh 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 Viet Thanh. Check out your portfolio center. Please also check ongoing floating volatility patterns of APG Securities and Viet Thanh.
Diversification Opportunities for APG Securities and Viet Thanh
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between APG and Viet is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding APG Securities Joint and Viet Thanh Plastic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Viet Thanh Plastic 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 Viet Thanh. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Viet Thanh Plastic has no effect on the direction of APG Securities i.e., APG Securities and Viet Thanh go up and down completely randomly.
Pair Corralation between APG Securities and Viet Thanh
Assuming the 90 days trading horizon APG Securities Joint is expected to under-perform the Viet Thanh. In addition to that, APG Securities is 1.12 times more volatile than Viet Thanh Plastic. It trades about -0.1 of its total potential returns per unit of risk. Viet Thanh Plastic is currently generating about 0.14 per unit of volatility. If you would invest 810,000 in Viet Thanh Plastic on November 5, 2024 and sell it today you would earn a total of 930,000 from holding Viet Thanh Plastic or generate 114.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
APG Securities Joint vs. Viet Thanh Plastic
Performance |
| Timeline |
| APG Securities Joint |
| Viet Thanh Plastic |
APG Securities and Viet Thanh Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with APG Securities and Viet Thanh
The main advantage of trading using opposite APG Securities and Viet Thanh positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if APG Securities position performs unexpectedly, Viet Thanh 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 Viet Thanh will offset losses from the drop in Viet Thanh's long position.| APG Securities vs. Binh Duong Construction | APG Securities vs. Sea Air Freight | APG Securities vs. Binhthuan Agriculture Services | APG Securities vs. Tng Investment And |
| Viet Thanh vs. Fecon Mining JSC | Viet Thanh vs. POST TELECOMMU | Viet Thanh vs. Danang Education Investment | Viet Thanh vs. AgriBank Securities 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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