Correlation Between Tng Investment and APG Securities

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Can any of the company-specific risk be diversified away by investing in both Tng Investment and APG Securities 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 Tng Investment and APG Securities into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Tng Investment And and APG Securities Joint, you can compare the effects of market volatilities on Tng Investment and APG Securities 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 Tng Investment with a short position of APG Securities. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tng Investment and APG Securities.

Diversification Opportunities for Tng Investment and APG Securities

TngAPGDiversified AwayTngAPGDiversified Away100%
0.07
  Correlation Coefficient

Significant diversification

The 3 months correlation between Tng and APG is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding Tng Investment And and APG Securities Joint in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on APG Securities Joint and Tng Investment 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 Tng Investment And are associated (or correlated) with APG Securities. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of APG Securities Joint has no effect on the direction of Tng Investment i.e., Tng Investment and APG Securities go up and down completely randomly.

Pair Corralation between Tng Investment and APG Securities

Assuming the 90 days trading horizon Tng Investment And is expected to generate 0.84 times more return on investment than APG Securities. However, Tng Investment And is 1.2 times less risky than APG Securities. It trades about 0.05 of its potential returns per unit of risk. APG Securities Joint is currently generating about 0.04 per unit of risk. If you would invest  1,445,446  in Tng Investment And on November 30, 2024 and sell it today you would earn a total of  884,554  from holding Tng Investment And or generate 61.2% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Together 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Tng Investment And  vs.  APG Securities Joint

 Performance 
JavaScript chart by amCharts 3.21.15Dec2025Feb -30-20-10010
JavaScript chart by amCharts 3.21.15TNG APG
       Timeline  
Tng Investment And 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days Tng Investment And has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy technical and fundamental indicators, Tng Investment is not utilizing all of its potentials. The recent stock price disarray, may contribute to short-term losses for the investors.
JavaScript chart by amCharts 3.21.15DecJanFebJanFeb21,00022,00023,00024,00025,00026,000
APG Securities Joint 

Risk-Adjusted Performance

Weak

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in APG Securities Joint are ranked lower than 1 (%) of all global equities and portfolios over the last 90 days. In spite of very healthy technical and fundamental indicators, APG Securities is not utilizing all of its potentials. The recent stock price disarray, may contribute to short-term losses for the investors.
JavaScript chart by amCharts 3.21.15DecJanFebJanFeb6,0006,5007,0007,5008,0008,5009,000

Tng Investment and APG Securities Volatility Contrast

   Predicted Return Density   
JavaScript chart by amCharts 3.21.15-2.02-1.51-1.0-0.49-0.0084520.450.961.471.982.49 0.050.100.150.200.25
JavaScript chart by amCharts 3.21.15TNG APG
       Returns  

Pair Trading with Tng Investment and APG Securities

The main advantage of trading using opposite Tng Investment and APG Securities positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tng Investment position performs unexpectedly, APG Securities 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 APG Securities will offset losses from the drop in APG Securities' long position.
The idea behind Tng Investment And and APG Securities Joint pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..

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