Correlation Between SSIAM VNFIN and Tng Investment
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By analyzing existing cross correlation between SSIAM VNFIN LEAD and Tng Investment And, you can compare the effects of market volatilities on SSIAM VNFIN and Tng Investment 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 SSIAM VNFIN with a short position of Tng Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of SSIAM VNFIN and Tng Investment.
Diversification Opportunities for SSIAM VNFIN and Tng Investment
-0.47 | Correlation Coefficient |
Very good diversification
The 3 months correlation between SSIAM and Tng is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding SSIAM VNFIN LEAD and Tng Investment And in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tng Investment And and SSIAM VNFIN 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 SSIAM VNFIN LEAD are associated (or correlated) with Tng Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tng Investment And has no effect on the direction of SSIAM VNFIN i.e., SSIAM VNFIN and Tng Investment go up and down completely randomly.
Pair Corralation between SSIAM VNFIN and Tng Investment
Assuming the 90 days trading horizon SSIAM VNFIN LEAD is expected to under-perform the Tng Investment. But the etf apears to be less risky and, when comparing its historical volatility, SSIAM VNFIN LEAD is 1.42 times less risky than Tng Investment. The etf trades about -0.11 of its potential returns per unit of risk. The Tng Investment And is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 2,421,412 in Tng Investment And on August 29, 2024 and sell it today you would earn a total of 8,588 from holding Tng Investment And or generate 0.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
SSIAM VNFIN LEAD vs. Tng Investment And
Performance |
| Timeline |
| SSIAM VNFIN LEAD |
| Tng Investment And |
SSIAM VNFIN and Tng Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SSIAM VNFIN and Tng Investment
The main advantage of trading using opposite SSIAM VNFIN and Tng Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SSIAM VNFIN position performs unexpectedly, Tng Investment 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 Tng Investment will offset losses from the drop in Tng Investment's long position.| SSIAM VNFIN vs. Idico JSC | SSIAM VNFIN vs. Alphanam ME | SSIAM VNFIN vs. Hochiminh City Metal | SSIAM VNFIN vs. Atesco Industrial Cartering |
| Tng Investment vs. FIT INVEST JSC | Tng Investment vs. Damsan JSC | Tng Investment vs. An Phat Plastic | Tng Investment vs. APG Securities Joint |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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