Haiphong Packing Correlations
| BXH Stock | 15,000 100.00 0.66% |
The current 90-days correlation between Haiphong Packing VICEM and South Basic Chemicals is 0.04 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Haiphong Packing moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Haiphong Packing VICEM moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Haiphong Packing Correlation With Market
Good diversification
The correlation between Haiphong Packing VICEM and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Haiphong Packing VICEM and DJI in the same portfolio, assuming nothing else is changed.
Haiphong |
The ability to find closely correlated positions to Haiphong Packing could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Haiphong Packing when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Haiphong Packing - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Haiphong Packing VICEM to buy it.
Moving against Haiphong Stock
Related Correlations Analysis
| 0.6 | 0.32 | 0.73 | 0.82 | 0.9 | 0.81 | CSV | ||
| 0.6 | 0.05 | 0.37 | 0.61 | 0.34 | 0.73 | ICT | ||
| 0.32 | 0.05 | 0.1 | 0.57 | 0.35 | 0.3 | FMC | ||
| 0.73 | 0.37 | 0.1 | 0.56 | 0.75 | 0.48 | JVC | ||
| 0.82 | 0.61 | 0.57 | 0.56 | 0.78 | 0.85 | FPT | ||
| 0.9 | 0.34 | 0.35 | 0.75 | 0.78 | 0.67 | ABS | ||
| 0.81 | 0.73 | 0.3 | 0.48 | 0.85 | 0.67 | ELC | ||
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Risk-Adjusted Indicators
There is a big difference between Haiphong Stock performing well and Haiphong Packing Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Haiphong Packing's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CSV | 1.78 | 0.26 | 0.13 | 0.94 | 1.45 | 5.75 | 10.90 | |||
| ICT | 1.59 | 0.25 | 0.10 | 0.62 | 1.73 | 4.28 | 12.72 | |||
| FMC | 0.65 | 0.01 | (0.03) | 0.08 | 0.73 | 1.50 | 4.42 | |||
| JVC | 1.05 | 0.22 | 0.12 | (0.56) | 0.91 | 3.54 | 9.46 | |||
| FPT | 0.94 | 0.16 | 0.11 | 0.69 | 0.96 | 2.74 | 7.64 | |||
| ABS | 1.56 | 0.27 | 0.11 | (0.93) | 1.53 | 5.10 | 12.04 | |||
| ELC | 1.00 | 0.19 | 0.09 | 1.11 | 1.15 | 2.66 | 7.38 |
Haiphong Packing Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Haiphong Packing stock to make a market-neutral strategy. Peer analysis of Haiphong Packing could also be used in its relative valuation, which is a method of valuing Haiphong Packing by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |