Correlation Between KIM GROWTH and Idico JSC
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By analyzing existing cross correlation between KIM GROWTH VN30 and Idico JSC, you can compare the effects of market volatilities on KIM GROWTH and Idico JSC 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 KIM GROWTH with a short position of Idico JSC. Check out your portfolio center. Please also check ongoing floating volatility patterns of KIM GROWTH and Idico JSC.
Diversification Opportunities for KIM GROWTH and Idico JSC
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between KIM and Idico is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding KIM GROWTH VN30 and Idico JSC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Idico JSC and KIM GROWTH 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 KIM GROWTH VN30 are associated (or correlated) with Idico JSC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Idico JSC has no effect on the direction of KIM GROWTH i.e., KIM GROWTH and Idico JSC go up and down completely randomly.
Pair Corralation between KIM GROWTH and Idico JSC
Assuming the 90 days trading horizon KIM GROWTH is expected to generate 2.26 times less return on investment than Idico JSC. But when comparing it to its historical volatility, KIM GROWTH VN30 is 1.48 times less risky than Idico JSC. It trades about 0.04 of its potential returns per unit of risk. Idico JSC is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 3,233,248 in Idico JSC on September 4, 2024 and sell it today you would earn a total of 2,316,752 from holding Idico JSC or generate 71.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.78% |
| Values | Daily Returns |
KIM GROWTH VN30 vs. Idico JSC
Performance |
| Timeline |
| KIM GROWTH VN30 |
| Idico JSC |
KIM GROWTH and Idico JSC Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KIM GROWTH and Idico JSC
The main advantage of trading using opposite KIM GROWTH and Idico JSC positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KIM GROWTH position performs unexpectedly, Idico JSC 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 Idico JSC will offset losses from the drop in Idico JSC's long position.| KIM GROWTH vs. Idico JSC | KIM GROWTH vs. Song Hong Garment | KIM GROWTH vs. Alphanam ME | KIM GROWTH vs. Hochiminh City Metal |
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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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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