Correlation Between Thanh Dat and Mobile World
Can any of the company-specific risk be diversified away by investing in both Thanh Dat and Mobile World 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 Thanh Dat and Mobile World into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Thanh Dat Investment and Mobile World Investment, you can compare the effects of market volatilities on Thanh Dat and Mobile World 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 Thanh Dat with a short position of Mobile World. Check out your portfolio center. Please also check ongoing floating volatility patterns of Thanh Dat and Mobile World.
Diversification Opportunities for Thanh Dat and Mobile World
-0.49 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Thanh and Mobile is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding Thanh Dat Investment and Mobile World Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mobile World Investment and Thanh Dat 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 Thanh Dat Investment are associated (or correlated) with Mobile World. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mobile World Investment has no effect on the direction of Thanh Dat i.e., Thanh Dat and Mobile World go up and down completely randomly.
Pair Corralation between Thanh Dat and Mobile World
Assuming the 90 days trading horizon Thanh Dat Investment is expected to generate 1.56 times more return on investment than Mobile World. However, Thanh Dat is 1.56 times more volatile than Mobile World Investment. It trades about 0.07 of its potential returns per unit of risk. Mobile World Investment is currently generating about 0.03 per unit of risk. If you would invest 1,066,163 in Thanh Dat Investment on October 12, 2024 and sell it today you would earn a total of 1,523,837 from holding Thanh Dat Investment or generate 142.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Thanh Dat Investment vs. Mobile World Investment
Performance |
| Timeline |
| Thanh Dat Investment |
| Mobile World Investment |
Thanh Dat and Mobile World Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Thanh Dat and Mobile World
The main advantage of trading using opposite Thanh Dat and Mobile World positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Thanh Dat position performs unexpectedly, Mobile World 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 Mobile World will offset losses from the drop in Mobile World's long position.| Thanh Dat vs. FIT INVEST JSC | Thanh Dat vs. Damsan JSC | Thanh Dat vs. An Phat Plastic | Thanh Dat vs. APG Securities Joint |
| Mobile World vs. HVC Investment and | Mobile World vs. PetroVietnam Drilling Well | Mobile World vs. Vina2 Investment and | Mobile World vs. Thanh Dat 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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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