Correlation Between International Gas and Post
Can any of the company-specific risk be diversified away by investing in both International Gas and Post at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining International Gas and Post into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between International Gas Product and Post and Telecommunications, you can compare the effects of market volatilities on International Gas and Post 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 International Gas with a short position of Post. Check out your portfolio center. Please also check ongoing floating volatility patterns of International Gas and Post.
Diversification Opportunities for International Gas and Post
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between International and Post is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding International Gas Product and Post and Telecommunications in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Post and Telecommuni and International Gas 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 International Gas Product are associated (or correlated) with Post. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Post and Telecommuni has no effect on the direction of International Gas i.e., International Gas and Post go up and down completely randomly.
Pair Corralation between International Gas and Post
If you would invest (100.00) in International Gas Product on September 13, 2024 and sell it today you would earn a total of 100.00 from holding International Gas Product or generate -100.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
International Gas Product vs. Post and Telecommunications
Performance |
Timeline |
International Gas Product |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Post and Telecommuni |
International Gas and Post Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with International Gas and Post
The main advantage of trading using opposite International Gas and Post positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if International Gas position performs unexpectedly, Post 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 Post will offset losses from the drop in Post's long position.International Gas vs. Duong Hieu Trading | International Gas vs. PetroVietnam Transportation Corp | International Gas vs. Construction And Investment | International Gas vs. MST Investment JSC |
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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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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