Correlation Between Din Capital and Techcom Vietnam
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By analyzing existing cross correlation between Din Capital Investment and Techcom Vietnam REIT, you can compare the effects of market volatilities on Din Capital 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 Din Capital with a short position of Techcom Vietnam. Check out your portfolio center. Please also check ongoing floating volatility patterns of Din Capital and Techcom Vietnam.
Diversification Opportunities for Din Capital and Techcom Vietnam
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between Din and Techcom is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding Din Capital Investment 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 Din Capital 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 Din Capital Investment 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 Din Capital i.e., Din Capital and Techcom Vietnam go up and down completely randomly.
Pair Corralation between Din Capital and Techcom Vietnam
Assuming the 90 days trading horizon Din Capital Investment is expected to generate 0.68 times more return on investment than Techcom Vietnam. However, Din Capital Investment is 1.47 times less risky than Techcom Vietnam. It trades about 0.01 of its potential returns per unit of risk. Techcom Vietnam REIT is currently generating about 0.0 per unit of risk. If you would invest 1,047,619 in Din Capital Investment on September 2, 2024 and sell it today you would lose (27,619) from holding Din Capital Investment or give up 2.64% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 81.78% |
| Values | Daily Returns |
Din Capital Investment vs. Techcom Vietnam REIT
Performance |
| Timeline |
| Din Capital Investment |
| Techcom Vietnam REIT |
Din Capital and Techcom Vietnam Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Din Capital and Techcom Vietnam
The main advantage of trading using opposite Din Capital and Techcom Vietnam positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Din Capital 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.| Din Capital vs. FIT INVEST JSC | Din Capital vs. Damsan JSC | Din Capital vs. An Phat Plastic | Din Capital vs. Alphanam ME |
| Techcom Vietnam vs. Transport and Industry | Techcom Vietnam vs. PetroVietnam Transportation Corp | Techcom Vietnam vs. Nam Kim Steel | Techcom Vietnam 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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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