Correlation Between BIDV Insurance and Cuulong Fish

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both BIDV Insurance 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 BIDV Insurance and Cuulong Fish into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between BIDV Insurance Corp and Cuulong Fish JSC, you can compare the effects of market volatilities on BIDV Insurance 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 BIDV Insurance with a short position of Cuulong Fish. Check out your portfolio center. Please also check ongoing floating volatility patterns of BIDV Insurance and Cuulong Fish.

Diversification Opportunities for BIDV Insurance and Cuulong Fish

BIDVCuulongDiversified AwayBIDVCuulongDiversified Away100%
-0.28
  Correlation Coefficient

Very good diversification

The 3 months correlation between BIDV and Cuulong is -0.28. Overlapping area represents the amount of risk that can be diversified away by holding BIDV Insurance Corp 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 BIDV Insurance 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 BIDV Insurance Corp 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 BIDV Insurance i.e., BIDV Insurance and Cuulong Fish go up and down completely randomly.

Pair Corralation between BIDV Insurance and Cuulong Fish

Assuming the 90 days trading horizon BIDV Insurance Corp is expected to generate 1.09 times more return on investment than Cuulong Fish. However, BIDV Insurance is 1.09 times more volatile than Cuulong Fish JSC. It trades about 0.06 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  2,318,156  in BIDV Insurance Corp on November 30, 2024 and sell it today you would earn a total of  1,331,844  from holding BIDV Insurance Corp or generate 57.45% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthInsignificant
Accuracy99.59%
ValuesDaily Returns

BIDV Insurance Corp  vs.  Cuulong Fish JSC

 Performance 
JavaScript chart by amCharts 3.21.15Dec2025Feb -50510
JavaScript chart by amCharts 3.21.15BIC ACL
       Timeline  
BIDV Insurance Corp 

Risk-Adjusted Performance

Modest

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in BIDV Insurance Corp are ranked lower than 5 (%) of all global equities and portfolios over the last 90 days. In spite of very healthy fundamental indicators, BIDV Insurance is not utilizing all of its potentials. The recent stock price disarray, may contribute to short-term losses for the investors.
JavaScript chart by amCharts 3.21.15DecJanFebJanFeb33,00034,00035,00036,00037,00038,000
Cuulong Fish JSC 

Risk-Adjusted Performance

OK

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Cuulong Fish JSC are ranked lower than 8 (%) of all global equities and portfolios over the last 90 days. In spite of very healthy essential indicators, Cuulong Fish is not utilizing all of its potentials. The recent stock price disarray, may contribute to short-term losses for the investors.
JavaScript chart by amCharts 3.21.15DecJanFebJanFeb11,00011,20011,40011,60011,80012,000

BIDV Insurance and Cuulong Fish Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15-4.42-3.31-2.2-1.090.01851.132.33.474.645.81 0.10.20.30.40.50.60.7
JavaScript chart by amCharts 3.21.15BIC ACL
       Returns  

Pair Trading with BIDV Insurance and Cuulong Fish

The main advantage of trading using opposite BIDV Insurance and Cuulong Fish positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if BIDV Insurance 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.
The idea behind BIDV Insurance Corp and Cuulong Fish JSC pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.

Other Complementary Tools

Pattern Recognition
Use different Pattern Recognition models to time the market across multiple global exchanges
Portfolio Dashboard
Portfolio dashboard that provides centralized access to all your investments
Watchlist Optimization
Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm
Stock Screener
Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook.
Balance Of Power
Check stock momentum by analyzing Balance Of Power indicator and other technical ratios