Correlation Between Japan Vietnam and Cuulong Fish

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Can any of the company-specific risk be diversified away by investing in both Japan Vietnam and Cuulong Fish 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 Japan Vietnam and Cuulong Fish into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Japan Vietnam Medical and Cuulong Fish JSC, you can compare the effects of market volatilities on Japan Vietnam and Cuulong Fish 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 Japan Vietnam with a short position of Cuulong Fish. Check out your portfolio center. Please also check ongoing floating volatility patterns of Japan Vietnam and Cuulong Fish.

Diversification Opportunities for Japan Vietnam and Cuulong Fish

JapanCuulongDiversified AwayJapanCuulongDiversified Away100%
0.13
  Correlation Coefficient

Average diversification

The 3 months correlation between Japan and Cuulong is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Japan Vietnam Medical and Cuulong Fish JSC in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cuulong Fish JSC and Japan 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 Japan Vietnam Medical are associated (or correlated) with Cuulong Fish. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cuulong Fish JSC has no effect on the direction of Japan Vietnam i.e., Japan Vietnam and Cuulong Fish go up and down completely randomly.

Pair Corralation between Japan Vietnam and Cuulong Fish

Assuming the 90 days trading horizon Japan Vietnam Medical is expected to generate 1.23 times more return on investment than Cuulong Fish. However, Japan Vietnam is 1.23 times more volatile than Cuulong Fish JSC. It trades about 0.04 of its potential returns per unit of risk. Cuulong Fish JSC is currently generating about 0.01 per unit of risk. If you would invest  334,000  in Japan Vietnam Medical on November 29, 2024 and sell it today you would earn a total of  122,000  from holding Japan Vietnam Medical or generate 36.53% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthInsignificant
Accuracy99.39%
ValuesDaily Returns

Japan Vietnam Medical  vs.  Cuulong Fish JSC

 Performance 
JavaScript chart by amCharts 3.21.15Dec2025Feb -30-25-20-15-10-50
JavaScript chart by amCharts 3.21.15JVC ACL
       Timeline  
Japan Vietnam Medical 

Risk-Adjusted Performance

Solid

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Japan Vietnam Medical are ranked lower than 20 (%) of all global equities and portfolios over the last 90 days. In spite of very unfluctuating fundamental indicators, Japan Vietnam displayed solid returns over the last few months and may actually be approaching a breakup point.
JavaScript chart by amCharts 3.21.15DecJanFebJanFeb3,2003,4003,6003,8004,0004,2004,4004,6004,800
Cuulong Fish JSC 

Risk-Adjusted Performance

OK

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Cuulong Fish JSC are ranked lower than 7 (%) of all global equities and portfolios over the last 90 days. In spite of very healthy essential indicators, Cuulong Fish is not utilizing all of its potentials. The current stock price disarray, may contribute to short-term losses for the investors.
JavaScript chart by amCharts 3.21.15DecJanFebJanFeb11,00011,20011,40011,60011,80012,000

Japan Vietnam and Cuulong Fish Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15-7.1-5.31-3.53-1.750.01.963.986.018.0310.06 0.10.20.30.40.50.60.7
JavaScript chart by amCharts 3.21.15JVC ACL
       Returns  

Pair Trading with Japan Vietnam and Cuulong Fish

The main advantage of trading using opposite Japan Vietnam and Cuulong Fish positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Japan Vietnam position performs unexpectedly, Cuulong Fish 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 Cuulong Fish will offset losses from the drop in Cuulong Fish's long position.
The idea behind Japan Vietnam Medical and Cuulong Fish JSC pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.

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