Correlation Between Techcom Vietnam and Vincom Retail
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By analyzing existing cross correlation between Techcom Vietnam REIT and Vincom Retail JSC, you can compare the effects of market volatilities on Techcom Vietnam and Vincom Retail 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 Vincom Retail. Check out your portfolio center. Please also check ongoing floating volatility patterns of Techcom Vietnam and Vincom Retail.
Diversification Opportunities for Techcom Vietnam and Vincom Retail
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Techcom and Vincom is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding Techcom Vietnam REIT and Vincom Retail JSC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vincom Retail JSC 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 Vincom Retail. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vincom Retail JSC has no effect on the direction of Techcom Vietnam i.e., Techcom Vietnam and Vincom Retail go up and down completely randomly.
Pair Corralation between Techcom Vietnam and Vincom Retail
Assuming the 90 days trading horizon Techcom Vietnam REIT is expected to under-perform the Vincom Retail. In addition to that, Techcom Vietnam is 3.37 times more volatile than Vincom Retail JSC. It trades about -0.18 of its total potential returns per unit of risk. Vincom Retail JSC is currently generating about -0.19 per unit of volatility. If you would invest 1,730,000 in Vincom Retail JSC on November 2, 2024 and sell it today you would lose (75,000) from holding Vincom Retail JSC or give up 4.34% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 66.67% |
| Values | Daily Returns |
Techcom Vietnam REIT vs. Vincom Retail JSC
Performance |
| Timeline |
| Techcom Vietnam REIT |
| Vincom Retail JSC |
Techcom Vietnam and Vincom Retail Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Techcom Vietnam and Vincom Retail
The main advantage of trading using opposite Techcom Vietnam and Vincom Retail positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Techcom Vietnam position performs unexpectedly, Vincom Retail 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 Vincom Retail will offset losses from the drop in Vincom Retail's long position.| Techcom Vietnam vs. Techno Agricultural Supplying | Techcom Vietnam vs. VietinBank Securities JSC | Techcom Vietnam vs. FPT Digital Retail | Techcom Vietnam vs. Binh Duong Trade |
| Vincom Retail vs. VietinBank Securities JSC | Vincom Retail vs. VTC Telecommunications JSC | Vincom Retail vs. Vietnam JSCmmercial Bank | Vincom Retail vs. AgriBank Securities JSC |
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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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