Correlation Between Vietnam Technological and Hoa Binh
Can any of the company-specific risk be diversified away by investing in both Vietnam Technological and Hoa Binh 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 Vietnam Technological and Hoa Binh into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Vietnam Technological And and Hoa Binh Mineral, you can compare the effects of market volatilities on Vietnam Technological and Hoa Binh 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 Hoa Binh. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vietnam Technological and Hoa Binh.
Diversification Opportunities for Vietnam Technological and Hoa Binh
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Vietnam and Hoa is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Vietnam Technological And and Hoa Binh Mineral in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hoa Binh Mineral 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 Hoa Binh. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hoa Binh Mineral has no effect on the direction of Vietnam Technological i.e., Vietnam Technological and Hoa Binh go up and down completely randomly.
Pair Corralation between Vietnam Technological and Hoa Binh
If you would invest 2,425,000 in Vietnam Technological And on December 4, 2024 and sell it today you would earn a total of 25,000 from holding Vietnam Technological And or generate 1.03% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.76% |
| Values | Daily Returns |
Vietnam Technological And vs. Hoa Binh Mineral
Performance |
| Timeline |
| Vietnam Technological And |
| Hoa Binh Mineral |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Vietnam Technological and Hoa Binh Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vietnam Technological and Hoa Binh
The main advantage of trading using opposite Vietnam Technological and Hoa Binh positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vietnam Technological position performs unexpectedly, Hoa Binh 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 Hoa Binh will offset losses from the drop in Hoa Binh's long position.| Vietnam Technological vs. Transimex Transportation JSC | Vietnam Technological vs. PVI Reinsurance Corp | Vietnam Technological vs. BaoMinh Insurance Corp | Vietnam Technological vs. Military Insurance Corp |
| Hoa Binh vs. Petrolimex Petrochemical JSC | Hoa Binh vs. PVI Reinsurance Corp | Hoa Binh vs. Mobile World Investment | Hoa Binh vs. Vietnam JSCmmercial Bank |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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