Correlation Between Long An and APG Securities
Can any of the company-specific risk be diversified away by investing in both Long An and APG Securities 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 Long An and APG Securities into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Long An Food and APG Securities Joint, you can compare the effects of market volatilities on Long An and APG Securities 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 Long An with a short position of APG Securities. Check out your portfolio center. Please also check ongoing floating volatility patterns of Long An and APG Securities.
Diversification Opportunities for Long An and APG Securities
-0.49 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Long and APG is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding Long An Food and APG Securities Joint in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on APG Securities Joint and Long An 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 Long An Food are associated (or correlated) with APG Securities. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of APG Securities Joint has no effect on the direction of Long An i.e., Long An and APG Securities go up and down completely randomly.
Pair Corralation between Long An and APG Securities
Assuming the 90 days trading horizon Long An Food is expected to generate 0.44 times more return on investment than APG Securities. However, Long An Food is 2.25 times less risky than APG Securities. It trades about 0.16 of its potential returns per unit of risk. APG Securities Joint is currently generating about -0.65 per unit of risk. If you would invest 1,765,000 in Long An Food on October 10, 2024 and sell it today you would earn a total of 75,000 from holding Long An Food or generate 4.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Long An Food vs. APG Securities Joint
Performance |
| Timeline |
| Long An Food |
| APG Securities Joint |
Long An and APG Securities Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Long An and APG Securities
The main advantage of trading using opposite Long An and APG Securities positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Long An position performs unexpectedly, APG Securities 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 APG Securities will offset losses from the drop in APG Securities' long position.| Long An vs. SMC Investment Trading | Long An vs. Pha Lai Thermal | Long An vs. Thanh Dat Investment | Long An vs. Viet Thanh Plastic |
| APG Securities vs. 1369 Construction JSC | APG Securities vs. Truong Thanh Furniture | APG Securities vs. Investment And Construction | APG Securities vs. Pacific Petroleum Transportation |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
Other Complementary Tools
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. |