Correlation Between Techcom Vietnam and Bentre Aquaproduct
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By analyzing existing cross correlation between Techcom Vietnam REIT and Bentre Aquaproduct Import, you can compare the effects of market volatilities on Techcom Vietnam and Bentre Aquaproduct 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 Techcom Vietnam with a short position of Bentre Aquaproduct. Check out your portfolio center. Please also check ongoing floating volatility patterns of Techcom Vietnam and Bentre Aquaproduct.
Diversification Opportunities for Techcom Vietnam and Bentre Aquaproduct
0.59 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Techcom and Bentre is 0.59. Overlapping area represents the amount of risk that can be diversified away by holding Techcom Vietnam REIT and Bentre Aquaproduct Import in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bentre Aquaproduct Import and Techcom Vietnam 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 Techcom Vietnam REIT are associated (or correlated) with Bentre Aquaproduct. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bentre Aquaproduct Import has no effect on the direction of Techcom Vietnam i.e., Techcom Vietnam and Bentre Aquaproduct go up and down completely randomly.
Pair Corralation between Techcom Vietnam and Bentre Aquaproduct
Assuming the 90 days trading horizon Techcom Vietnam REIT is expected to generate 5.76 times more return on investment than Bentre Aquaproduct. However, Techcom Vietnam is 5.76 times more volatile than Bentre Aquaproduct Import. It trades about 0.0 of its potential returns per unit of risk. Bentre Aquaproduct Import is currently generating about -0.07 per unit of risk. If you would invest 537,000 in Techcom Vietnam REIT on September 1, 2024 and sell it today you would lose (6,000) from holding Techcom Vietnam REIT or give up 1.12% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 90.0% |
| Values | Daily Returns |
Techcom Vietnam REIT vs. Bentre Aquaproduct Import
Performance |
| Timeline |
| Techcom Vietnam REIT |
| Bentre Aquaproduct Import |
Techcom Vietnam and Bentre Aquaproduct Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Techcom Vietnam and Bentre Aquaproduct
The main advantage of trading using opposite Techcom Vietnam and Bentre Aquaproduct positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Techcom Vietnam position performs unexpectedly, Bentre Aquaproduct 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 Bentre Aquaproduct will offset losses from the drop in Bentre Aquaproduct's long position.| Techcom Vietnam vs. FIT INVEST JSC | Techcom Vietnam vs. Damsan JSC | Techcom Vietnam vs. An Phat Plastic | Techcom Vietnam vs. Alphanam ME |
| Bentre Aquaproduct vs. FIT INVEST JSC | Bentre Aquaproduct vs. Damsan JSC | Bentre Aquaproduct vs. An Phat Plastic | Bentre Aquaproduct vs. Alphanam ME |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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