Correlation Between VCI Global and ManpowerGroup
Can any of the company-specific risk be diversified away by investing in both VCI Global and ManpowerGroup 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 VCI Global and ManpowerGroup into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between VCI Global Limited and ManpowerGroup, you can compare the effects of market volatilities on VCI Global and ManpowerGroup 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 VCI Global with a short position of ManpowerGroup. Check out your portfolio center. Please also check ongoing floating volatility patterns of VCI Global and ManpowerGroup.
Diversification Opportunities for VCI Global and ManpowerGroup
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between VCI and ManpowerGroup is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding VCI Global Limited and ManpowerGroup in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ManpowerGroup and VCI Global 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 VCI Global Limited are associated (or correlated) with ManpowerGroup. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ManpowerGroup has no effect on the direction of VCI Global i.e., VCI Global and ManpowerGroup go up and down completely randomly.
Pair Corralation between VCI Global and ManpowerGroup
Given the investment horizon of 90 days VCI Global Limited is expected to under-perform the ManpowerGroup. In addition to that, VCI Global is 6.1 times more volatile than ManpowerGroup. It trades about -0.2 of its total potential returns per unit of risk. ManpowerGroup is currently generating about -0.14 per unit of volatility. If you would invest 3,740 in ManpowerGroup on October 7, 2025 and sell it today you would lose (728.50) from holding ManpowerGroup or give up 19.48% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
VCI Global Limited vs. ManpowerGroup
Performance |
| Timeline |
| VCI Global Limited |
| ManpowerGroup |
VCI Global and ManpowerGroup Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with VCI Global and ManpowerGroup
The main advantage of trading using opposite VCI Global and ManpowerGroup positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if VCI Global position performs unexpectedly, ManpowerGroup 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 ManpowerGroup will offset losses from the drop in ManpowerGroup's long position.| VCI Global vs. Zoomcar Holdings | VCI Global vs. Rain Enhancement Technologies | VCI Global vs. C3is Inc | VCI Global vs. Captivision Ordinary Shares |
| ManpowerGroup vs. Custom Truck One | ManpowerGroup vs. Insperity | ManpowerGroup vs. NAPCO Security Technologies | ManpowerGroup vs. Ducommun Incorporated |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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