Correlation Between Idico JSC and KIM GROWTH
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By analyzing existing cross correlation between Idico JSC and KIM GROWTH VN30, you can compare the effects of market volatilities on Idico JSC and KIM GROWTH 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 Idico JSC with a short position of KIM GROWTH. Check out your portfolio center. Please also check ongoing floating volatility patterns of Idico JSC and KIM GROWTH.
Diversification Opportunities for Idico JSC and KIM GROWTH
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between Idico and KIM is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding Idico JSC and KIM GROWTH VN30 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KIM GROWTH VN30 and Idico JSC 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 Idico JSC are associated (or correlated) with KIM GROWTH. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KIM GROWTH VN30 has no effect on the direction of Idico JSC i.e., Idico JSC and KIM GROWTH go up and down completely randomly.
Pair Corralation between Idico JSC and KIM GROWTH
Assuming the 90 days trading horizon Idico JSC is expected to under-perform the KIM GROWTH. In addition to that, Idico JSC is 1.44 times more volatile than KIM GROWTH VN30. It trades about 0.0 of its total potential returns per unit of risk. KIM GROWTH VN30 is currently generating about 0.01 per unit of volatility. If you would invest 880,000 in KIM GROWTH VN30 on September 4, 2024 and sell it today you would earn a total of 1,000.00 from holding KIM GROWTH VN30 or generate 0.11% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.91% |
| Values | Daily Returns |
Idico JSC vs. KIM GROWTH VN30
Performance |
| Timeline |
| Idico JSC |
| KIM GROWTH VN30 |
Idico JSC and KIM GROWTH Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Idico JSC and KIM GROWTH
The main advantage of trading using opposite Idico JSC and KIM GROWTH positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Idico JSC position performs unexpectedly, KIM GROWTH 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 KIM GROWTH will offset losses from the drop in KIM GROWTH's long position.| Idico JSC vs. MST Investment JSC | Idico JSC vs. Development Investment Construction | Idico JSC vs. Dinhvu Port Investment | Idico JSC vs. Construction And Investment |
| KIM GROWTH vs. Idico JSC | KIM GROWTH vs. Song Hong Garment | KIM GROWTH vs. Alphanam ME | KIM GROWTH vs. Hochiminh City Metal |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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