RangDong Plastic Correlations
| RDP Stock | 1,310 20.00 1.55% |
The current 90-days correlation between RangDong Plastic JSC and Vincom Retail JSC is 0.06 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as RangDong Plastic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if RangDong Plastic JSC moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
RangDong Plastic Correlation With Market
Modest diversification
The correlation between RangDong Plastic JSC and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding RangDong Plastic JSC and DJI in the same portfolio, assuming nothing else is changed.
RangDong |
The ability to find closely correlated positions to RangDong Plastic could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace RangDong Plastic 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 RangDong Plastic - 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 RangDong Plastic JSC to buy it.
Moving together with RangDong Stock
| 0.78 | ADS | Damsan JSC | PairCorr |
| 0.76 | AAA | An Phat Plastic | PairCorr |
| 0.83 | AME | Alphanam ME | PairCorr |
| 0.73 | APG | APG Securities Joint | PairCorr |
| 0.7 | AAM | Mekong Fisheries JSC | PairCorr |
| 0.68 | ABT | Bentre Aquaproduct Import | PairCorr |
Related Correlations Analysis
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Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations
| High negative correlations
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Risk-Adjusted Indicators
There is a big difference between RangDong Stock performing well and RangDong Plastic 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 RangDong Plastic'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| VRE | 0.96 | (0.17) | 0.00 | (0.63) | 0.00 | 1.87 | 5.66 | |||
| TIP | 0.82 | (0.04) | (0.08) | 0.03 | 0.98 | 1.55 | 8.18 | |||
| CSV | 1.55 | 0.06 | (0.01) | 0.37 | 1.56 | 5.75 | 10.90 | |||
| PIA | 2.10 | (0.31) | 0.00 | (0.28) | 0.00 | 7.10 | 16.71 | |||
| VCA | 3.00 | 1.08 | 0.27 | (0.99) | 2.29 | 6.94 | 12.78 | |||
| SVT | 0.99 | 0.02 | (0.04) | (0.78) | 1.29 | 1.79 | 10.39 | |||
| ELC | 1.06 | 0.21 | 0.08 | 0.94 | 1.14 | 2.94 | 7.38 | |||
| PVS | 0.86 | (0.26) | 0.00 | (0.69) | 0.00 | 1.51 | 7.08 |
RangDong Plastic 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 RangDong Plastic stock to make a market-neutral strategy. Peer analysis of RangDong Plastic could also be used in its relative valuation, which is a method of valuing RangDong Plastic by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |