Correlation Between Vietnam Technological and Techcom Vietnam
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By analyzing existing cross correlation between Vietnam Technological And and Techcom Vietnam REIT, you can compare the effects of market volatilities on Vietnam Technological 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 Vietnam Technological with a short position of Techcom Vietnam. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vietnam Technological and Techcom Vietnam.
Diversification Opportunities for Vietnam Technological and Techcom Vietnam
-0.3 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Vietnam and Techcom is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding Vietnam Technological And 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 Vietnam Technological 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 Vietnam Technological And 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 Vietnam Technological i.e., Vietnam Technological and Techcom Vietnam go up and down completely randomly.
Pair Corralation between Vietnam Technological and Techcom Vietnam
Assuming the 90 days trading horizon Vietnam Technological And is expected to under-perform the Techcom Vietnam. But the stock apears to be less risky and, when comparing its historical volatility, Vietnam Technological And is 3.81 times less risky than Techcom Vietnam. The stock trades about -0.01 of its potential returns per unit of risk. The Techcom Vietnam REIT is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 570,000 in Techcom Vietnam REIT on August 28, 2024 and sell it today you would earn a total of 14,000 from holding Techcom Vietnam REIT or generate 2.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 76.19% |
| Values | Daily Returns |
Vietnam Technological And vs. Techcom Vietnam REIT
Performance |
| Timeline |
| Vietnam Technological And |
| Techcom Vietnam REIT |
Vietnam Technological and Techcom Vietnam Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vietnam Technological and Techcom Vietnam
The main advantage of trading using opposite Vietnam Technological and Techcom Vietnam positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vietnam Technological 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.| Vietnam Technological vs. Vina2 Investment and | Vietnam Technological vs. Tng Investment And | Vietnam Technological vs. Hai An Transport | Vietnam Technological vs. 577 Investment Corp |
| 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 Idea Optimizer module to use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio .
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