VINACONEX MEC Correlations
| VCM Stock | 8,300 400.00 4.60% |
The current 90-days correlation between VINACONEX MEC and Nam Kim Steel is 0.04 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as VINACONEX MEC moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if VINACONEX MEC moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
VINACONEX MEC Correlation With Market
Good diversification
The correlation between VINACONEX MEC and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VINACONEX MEC and DJI in the same portfolio, assuming nothing else is changed.
VINACONEX |
The ability to find closely correlated positions to VINACONEX MEC could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace VINACONEX MEC 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 VINACONEX MEC - 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 VINACONEX MEC to buy it.
Moving against VINACONEX Stock
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
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Risk-Adjusted Indicators
There is a big difference between VINACONEX Stock performing well and VINACONEX MEC 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 VINACONEX MEC'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NKG | 1.42 | (0.56) | 0.00 | 31.37 | 0.00 | 1.45 | 21.81 | |||
| FCM | 0.97 | 0.12 | 0.06 | 0.70 | 1.00 | 1.94 | 5.26 | |||
| ELC | 1.00 | 0.19 | 0.09 | 1.11 | 1.15 | 2.66 | 7.38 | |||
| PTI | 2.28 | 0.18 | 0.05 | (2.47) | 2.55 | 5.23 | 13.69 | |||
| VCA | 3.29 | 0.54 | 0.12 | (1.25) | 3.16 | 6.94 | 13.86 | |||
| PTC | 1.65 | (0.11) | 0.00 | 34.75 | 0.00 | 4.07 | 11.19 | |||
| MWG | 1.03 | (0.17) | 0.00 | 10.77 | 0.00 | 1.71 | 6.31 |
VINACONEX MEC 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 VINACONEX MEC stock to make a market-neutral strategy. Peer analysis of VINACONEX MEC could also be used in its relative valuation, which is a method of valuing VINACONEX MEC by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |