Correlation Between VIP Clothing and Can Fin
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By analyzing existing cross correlation between VIP Clothing Limited and Can Fin Homes, you can compare the effects of market volatilities on VIP Clothing and Can Fin 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 VIP Clothing with a short position of Can Fin. Check out your portfolio center. Please also check ongoing floating volatility patterns of VIP Clothing and Can Fin.
Diversification Opportunities for VIP Clothing and Can Fin
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between VIP and Can is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding VIP Clothing Limited and Can Fin Homes in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Can Fin Homes and VIP Clothing 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 VIP Clothing Limited are associated (or correlated) with Can Fin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Can Fin Homes has no effect on the direction of VIP Clothing i.e., VIP Clothing and Can Fin go up and down completely randomly.
Pair Corralation between VIP Clothing and Can Fin
Assuming the 90 days trading horizon VIP Clothing Limited is expected to generate 2.93 times more return on investment than Can Fin. However, VIP Clothing is 2.93 times more volatile than Can Fin Homes. It trades about 0.18 of its potential returns per unit of risk. Can Fin Homes is currently generating about -0.11 per unit of risk. If you would invest 4,218 in VIP Clothing Limited on September 5, 2024 and sell it today you would earn a total of 539.00 from holding VIP Clothing Limited or generate 12.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
VIP Clothing Limited vs. Can Fin Homes
Performance |
| Timeline |
| VIP Clothing Limited |
| Can Fin Homes |
VIP Clothing and Can Fin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with VIP Clothing and Can Fin
The main advantage of trading using opposite VIP Clothing and Can Fin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if VIP Clothing position performs unexpectedly, Can Fin 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 Can Fin will offset losses from the drop in Can Fin's long position.| VIP Clothing vs. Kingfa Science Technology | VIP Clothing vs. Rico Auto Industries | VIP Clothing vs. GACM Technologies Limited | VIP Clothing vs. COSMO FIRST LIMITED |
| Can Fin vs. Heritage Foods Limited | Can Fin vs. EMBASSY OFFICE PARKS | Can Fin vs. Beta Drugs | Can Fin vs. Aban Offshore Limited |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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