Correlation Between Vintcom Technology and Winner Group
Can any of the company-specific risk be diversified away by investing in both Vintcom Technology and Winner Group 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 Vintcom Technology and Winner Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Vintcom Technology PCL and Winner Group Enterprise, you can compare the effects of market volatilities on Vintcom Technology and Winner Group 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 Vintcom Technology with a short position of Winner Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vintcom Technology and Winner Group.
Diversification Opportunities for Vintcom Technology and Winner Group
0.07 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Vintcom and Winner is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding Vintcom Technology PCL and Winner Group Enterprise in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Winner Group Enterprise and Vintcom Technology 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 Vintcom Technology PCL are associated (or correlated) with Winner Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Winner Group Enterprise has no effect on the direction of Vintcom Technology i.e., Vintcom Technology and Winner Group go up and down completely randomly.
Pair Corralation between Vintcom Technology and Winner Group
Assuming the 90 days trading horizon Vintcom Technology PCL is expected to under-perform the Winner Group. In addition to that, Vintcom Technology is 2.11 times more volatile than Winner Group Enterprise. It trades about -0.18 of its total potential returns per unit of risk. Winner Group Enterprise is currently generating about -0.12 per unit of volatility. If you would invest 212.00 in Winner Group Enterprise on August 29, 2024 and sell it today you would lose (10.00) from holding Winner Group Enterprise or give up 4.72% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 97.56% |
| Values | Daily Returns |
Vintcom Technology PCL vs. Winner Group Enterprise
Performance |
| Timeline |
| Vintcom Technology PCL |
| Winner Group Enterprise |
Vintcom Technology and Winner Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vintcom Technology and Winner Group
The main advantage of trading using opposite Vintcom Technology and Winner Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vintcom Technology position performs unexpectedly, Winner Group 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 Winner Group will offset losses from the drop in Winner Group's long position.| Vintcom Technology vs. SiS Distribution Public | Vintcom Technology vs. Synnex Public | Vintcom Technology vs. SVI Public | Vintcom Technology vs. SCG PACKAGING PCL NVDR |
| Winner Group vs. T S Flour | Winner Group vs. Vintcom Technology PCL | Winner Group vs. Thanapiriya Public | Winner Group vs. Ubis Public |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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