Correlation Between Phat Dat and POST TELECOMMU
Can any of the company-specific risk be diversified away by investing in both Phat Dat and POST TELECOMMU 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 Phat Dat and POST TELECOMMU into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Phat Dat Real and POST TELECOMMU, you can compare the effects of market volatilities on Phat Dat and POST TELECOMMU 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 Phat Dat with a short position of POST TELECOMMU. Check out your portfolio center. Please also check ongoing floating volatility patterns of Phat Dat and POST TELECOMMU.
Diversification Opportunities for Phat Dat and POST TELECOMMU
-0.05 | Correlation Coefficient |
Good diversification
The 3 months correlation between Phat and POST is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding Phat Dat Real and POST TELECOMMU in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on POST TELECOMMU and Phat Dat 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 Phat Dat Real are associated (or correlated) with POST TELECOMMU. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of POST TELECOMMU has no effect on the direction of Phat Dat i.e., Phat Dat and POST TELECOMMU go up and down completely randomly.
Pair Corralation between Phat Dat and POST TELECOMMU
Assuming the 90 days trading horizon Phat Dat Real is expected to generate 0.65 times more return on investment than POST TELECOMMU. However, Phat Dat Real is 1.53 times less risky than POST TELECOMMU. It trades about -0.02 of its potential returns per unit of risk. POST TELECOMMU is currently generating about -0.03 per unit of risk. If you would invest 2,511,597 in Phat Dat Real on September 4, 2024 and sell it today you would lose (426,597) from holding Phat Dat Real or give up 16.99% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 90.61% |
| Values | Daily Returns |
Phat Dat Real vs. POST TELECOMMU
Performance |
| Timeline |
| Phat Dat Real |
| POST TELECOMMU |
Phat Dat and POST TELECOMMU Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Phat Dat and POST TELECOMMU
The main advantage of trading using opposite Phat Dat and POST TELECOMMU positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Phat Dat position performs unexpectedly, POST TELECOMMU 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 POST TELECOMMU will offset losses from the drop in POST TELECOMMU's long position.| Phat Dat vs. DIC Holdings Construction | Phat Dat vs. Viettel Construction JSC | Phat Dat vs. Da Nang Construction | Phat Dat vs. Vinhomes JSC |
| POST TELECOMMU vs. FIT INVEST JSC | POST TELECOMMU vs. Damsan JSC | POST TELECOMMU vs. An Phat Plastic | POST TELECOMMU vs. Alphanam ME |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
Other Complementary Tools
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules |