Correlation Between Viet Thanh and Masan Group
Can any of the company-specific risk be diversified away by investing in both Viet Thanh and Masan 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 Viet Thanh and Masan Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Viet Thanh Plastic and Masan Group Corp, you can compare the effects of market volatilities on Viet Thanh and Masan 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 Viet Thanh with a short position of Masan Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Viet Thanh and Masan Group.
Diversification Opportunities for Viet Thanh and Masan Group
0.26 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Viet and Masan is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding Viet Thanh Plastic and Masan Group Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Masan Group Corp and Viet Thanh 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 Viet Thanh Plastic are associated (or correlated) with Masan Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Masan Group Corp has no effect on the direction of Viet Thanh i.e., Viet Thanh and Masan Group go up and down completely randomly.
Pair Corralation between Viet Thanh and Masan Group
If you would invest 810,000 in Viet Thanh Plastic on September 12, 2024 and sell it today you would earn a total of 940,000 from holding Viet Thanh Plastic or generate 116.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 0.0% |
| Values | Daily Returns |
Viet Thanh Plastic vs. Masan Group Corp
Performance |
| Timeline |
| Viet Thanh Plastic |
| Masan Group Corp |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Viet Thanh and Masan Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Viet Thanh and Masan Group
The main advantage of trading using opposite Viet Thanh and Masan Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Viet Thanh position performs unexpectedly, Masan 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 Masan Group will offset losses from the drop in Masan Group's long position.| Viet Thanh vs. Century Synthetic Fiber | Viet Thanh vs. South Basic Chemicals | Viet Thanh vs. Book And Educational | Viet Thanh vs. Ha Noi Education |
| Masan Group vs. Viet Thanh Plastic | Masan Group vs. Phuoc Hoa Rubber | Masan Group vs. Saigon Viendong Technology | Masan Group vs. Hanoi Plastics JSC |
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 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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