Correlation Between Techcom Vietnam and Military Insurance
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By analyzing existing cross correlation between Techcom Vietnam REIT and Military Insurance Corp, you can compare the effects of market volatilities on Techcom Vietnam and Military Insurance 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 Military Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Techcom Vietnam and Military Insurance.
Diversification Opportunities for Techcom Vietnam and Military Insurance
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between Techcom and Military is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Techcom Vietnam REIT and Military Insurance Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Military Insurance Corp 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 Military Insurance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Military Insurance Corp has no effect on the direction of Techcom Vietnam i.e., Techcom Vietnam and Military Insurance go up and down completely randomly.
Pair Corralation between Techcom Vietnam and Military Insurance
Assuming the 90 days trading horizon Techcom Vietnam REIT is expected to under-perform the Military Insurance. In addition to that, Techcom Vietnam is 3.03 times more volatile than Military Insurance Corp. It trades about -0.18 of its total potential returns per unit of risk. Military Insurance Corp is currently generating about -0.29 per unit of volatility. If you would invest 1,820,000 in Military Insurance Corp on November 3, 2024 and sell it today you would lose (130,000) from holding Military Insurance Corp or give up 7.14% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 66.67% |
| Values | Daily Returns |
Techcom Vietnam REIT vs. Military Insurance Corp
Performance |
| Timeline |
| Techcom Vietnam REIT |
| Military Insurance Corp |
Techcom Vietnam and Military Insurance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Techcom Vietnam and Military Insurance
The main advantage of trading using opposite Techcom Vietnam and Military Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Techcom Vietnam position performs unexpectedly, Military Insurance 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 Military Insurance will offset losses from the drop in Military Insurance's long position.| Techcom Vietnam vs. FIT INVEST JSC | Techcom Vietnam vs. Damsan JSC | Techcom Vietnam vs. An Phat Plastic | Techcom Vietnam vs. APG Securities Joint |
| Military Insurance vs. Vincom Retail JSC | Military Insurance vs. FPT Digital Retail | Military Insurance vs. PostTelecommunication Equipment | Military Insurance vs. Post and Telecommunications |
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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