Correlation Between Petrolimex Insurance and Kim Vi
Can any of the company-specific risk be diversified away by investing in both Petrolimex Insurance and Kim Vi 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 Petrolimex Insurance and Kim Vi into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Petrolimex Insurance Corp and Kim Vi Inox, you can compare the effects of market volatilities on Petrolimex Insurance and Kim Vi 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 Petrolimex Insurance with a short position of Kim Vi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Petrolimex Insurance and Kim Vi.
Diversification Opportunities for Petrolimex Insurance and Kim Vi
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Petrolimex and Kim is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Petrolimex Insurance Corp and Kim Vi Inox in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kim Vi Inox and Petrolimex 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 Petrolimex Insurance Corp are associated (or correlated) with Kim Vi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kim Vi Inox has no effect on the direction of Petrolimex Insurance i.e., Petrolimex Insurance and Kim Vi go up and down completely randomly.
Pair Corralation between Petrolimex Insurance and Kim Vi
If you would invest (100.00) in Kim Vi Inox on September 4, 2024 and sell it today you would earn a total of 100.00 from holding Kim Vi Inox or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Petrolimex Insurance Corp vs. Kim Vi Inox
Performance |
| Timeline |
| Petrolimex Insurance Corp |
| Kim Vi Inox |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Petrolimex Insurance and Kim Vi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Petrolimex Insurance and Kim Vi
The main advantage of trading using opposite Petrolimex Insurance and Kim Vi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Petrolimex Insurance position performs unexpectedly, Kim Vi 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 Kim Vi will offset losses from the drop in Kim Vi's long position.| Petrolimex Insurance vs. FIT INVEST JSC | Petrolimex Insurance vs. Damsan JSC | Petrolimex Insurance vs. An Phat Plastic | Petrolimex Insurance vs. Alphanam ME |
| Kim Vi vs. Investment and Industrial | Kim Vi vs. Song Hong Aluminum | Kim Vi vs. Pacific Petroleum Transportation | Kim Vi vs. Petrolimex Insurance Corp |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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