Correlation Between Atesco Industrial and BIDV Securities
Can any of the company-specific risk be diversified away by investing in both Atesco Industrial and BIDV Securities 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 Atesco Industrial and BIDV Securities into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Atesco Industrial Cartering and BIDV Securities JSC, you can compare the effects of market volatilities on Atesco Industrial and BIDV Securities 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 Atesco Industrial with a short position of BIDV Securities. Check out your portfolio center. Please also check ongoing floating volatility patterns of Atesco Industrial and BIDV Securities.
Diversification Opportunities for Atesco Industrial and BIDV Securities
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Atesco and BIDV is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Atesco Industrial Cartering and BIDV Securities JSC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BIDV Securities JSC and Atesco Industrial 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 Atesco Industrial Cartering are associated (or correlated) with BIDV Securities. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BIDV Securities JSC has no effect on the direction of Atesco Industrial i.e., Atesco Industrial and BIDV Securities go up and down completely randomly.
Pair Corralation between Atesco Industrial and BIDV Securities
If you would invest 1,490,000 in Atesco Industrial Cartering on October 20, 2024 and sell it today you would lose (30,000) from holding Atesco Industrial Cartering or give up 2.01% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Atesco Industrial Cartering vs. BIDV Securities JSC
Performance |
| Timeline |
| Atesco Industrial |
| BIDV Securities JSC |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Atesco Industrial and BIDV Securities Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Atesco Industrial and BIDV Securities
The main advantage of trading using opposite Atesco Industrial and BIDV Securities positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Atesco Industrial position performs unexpectedly, BIDV Securities 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 BIDV Securities will offset losses from the drop in BIDV Securities' long position.| Atesco Industrial vs. Vina2 Investment and | Atesco Industrial vs. Elcom Technology Communications | Atesco Industrial vs. Construction And Investment | Atesco Industrial vs. SMC Investment Trading |
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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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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