Correlation Between Military Insurance and Techcom Vietnam
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By analyzing existing cross correlation between Military Insurance Corp and Techcom Vietnam REIT, you can compare the effects of market volatilities on Military Insurance and Techcom Vietnam 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 Military Insurance with a short position of Techcom Vietnam. Check out your portfolio center. Please also check ongoing floating volatility patterns of Military Insurance and Techcom Vietnam.
Diversification Opportunities for Military Insurance and Techcom Vietnam
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between Military and Techcom is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Military Insurance Corp and Techcom Vietnam REIT in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Techcom Vietnam REIT and Military Insurance 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 Military Insurance Corp are associated (or correlated) with Techcom Vietnam. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Techcom Vietnam REIT has no effect on the direction of Military Insurance i.e., Military Insurance and Techcom Vietnam go up and down completely randomly.
Pair Corralation between Military Insurance and Techcom Vietnam
Assuming the 90 days trading horizon Military Insurance Corp is expected to generate 0.33 times more return on investment than Techcom Vietnam. However, Military Insurance Corp is 3.03 times less risky than Techcom Vietnam. It trades about -0.29 of its potential returns per unit of risk. Techcom Vietnam REIT is currently generating about -0.18 per unit of risk. If you would invest 1,820,000 in Military Insurance Corp on November 3, 2024 and sell it today you would lose (130,000) from holding Military Insurance Corp or give up 7.14% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 66.67% |
| Values | Daily Returns |
Military Insurance Corp vs. Techcom Vietnam REIT
Performance |
| Timeline |
| Military Insurance Corp |
| Techcom Vietnam REIT |
Military Insurance and Techcom Vietnam Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Military Insurance and Techcom Vietnam
The main advantage of trading using opposite Military Insurance and Techcom Vietnam positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Military Insurance position performs unexpectedly, Techcom Vietnam 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 Techcom Vietnam will offset losses from the drop in Techcom Vietnam's long position.| Military Insurance vs. Vincom Retail JSC | Military Insurance vs. FPT Digital Retail | Military Insurance vs. PostTelecommunication Equipment | Military Insurance vs. Post and Telecommunications |
| Techcom Vietnam vs. FIT INVEST JSC | Techcom Vietnam vs. Damsan JSC | Techcom Vietnam vs. An Phat Plastic | Techcom Vietnam 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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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