Correlation Between TELUS International and VCI Global

Can any of the company-specific risk be diversified away by investing in both TELUS International and VCI Global 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 TELUS International and VCI Global into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between TELUS International and VCI Global Limited, you can compare the effects of market volatilities on TELUS International and VCI Global 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 TELUS International with a short position of VCI Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of TELUS International and VCI Global.

Diversification Opportunities for TELUS International and VCI Global

-0.87

Correlation Coefficient

TELUS International  VCI Global

Pay attention - limited upside

The 3 months correlation between TELUS and VCI is -0.87. Overlapping area represents the amount of risk that can be diversified away by holding TELUS International and VCI Global Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on VCI Global Limited and TELUS International 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 TELUS International are associated (or correlated) with VCI Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of VCI Global Limited has no effect on the direction of TELUS International i.e., TELUS International and VCI Global go up and down completely randomly.

Pair Corralation between TELUS International and VCI Global

Given the investment horizon of 90 days TELUS International is expected to generate 0.41 times more return on investment than VCI Global. However, TELUS International is 2.42 times less risky than VCI Global. It trades about 0.19 of its potential returns per unit of risk. VCI Global Limited is currently generating about -0.18 per unit of risk. If you would invest  255.00  in TELUS International on May 1, 2025 and sell it today you would earn a total of  141.00  from holding TELUS International or generate 55.29% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Significant
Accuracy	100.0%
Values	Daily Returns

TELUS International  vs.  VCI Global Limited

TELUS International

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in TELUS International are ranked lower than 14 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively weak basic indicators, TELUS International unveiled solid returns over the last few months and may actually be approaching a breakup point.

VCI Global Limited

Risk-Adjusted Performance

Very Weak

Over the last 90 days VCI Global Limited has generated negative risk-adjusted returns adding no value to investors with long positions. Despite inconsistent performance in the last few months, the Stock's forward indicators remain nearly stable which may send shares a bit higher in August 2025. The current disturbance may also be a sign of long-run up-swing for the company stockholders.

Pair Trading with TELUS International and VCI Global

The main advantage of trading using opposite TELUS International and VCI Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TELUS International position performs unexpectedly, VCI Global 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 VCI Global will offset losses from the drop in VCI Global's long position.

The idea behind TELUS International and VCI Global Limited pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.