Correlation Between Armada Hflr and VINACAPITAL VN100
Specify exactly 2 symbols:
By analyzing existing cross correlation between Armada Hflr Pr and VINACAPITAL VN100 ETF, you can compare the effects of market volatilities on Armada Hflr and VINACAPITAL VN100 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 Armada Hflr with a short position of VINACAPITAL VN100. Check out your portfolio center. Please also check ongoing floating volatility patterns of Armada Hflr and VINACAPITAL VN100.
Diversification Opportunities for Armada Hflr and VINACAPITAL VN100
-0.13 | Correlation Coefficient |
Good diversification
The 3 months correlation between Armada and VINACAPITAL is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding Armada Hflr Pr and VINACAPITAL VN100 ETF in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on VINACAPITAL VN100 ETF and Armada Hflr 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 Armada Hflr Pr are associated (or correlated) with VINACAPITAL VN100. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of VINACAPITAL VN100 ETF has no effect on the direction of Armada Hflr i.e., Armada Hflr and VINACAPITAL VN100 go up and down completely randomly.
Pair Corralation between Armada Hflr and VINACAPITAL VN100
Considering the 90-day investment horizon Armada Hflr Pr is expected to under-perform the VINACAPITAL VN100. In addition to that, Armada Hflr is 1.72 times more volatile than VINACAPITAL VN100 ETF. It trades about -0.02 of its total potential returns per unit of risk. VINACAPITAL VN100 ETF is currently generating about 0.1 per unit of volatility. If you would invest 1,475,000 in VINACAPITAL VN100 ETF on September 14, 2024 and sell it today you would earn a total of 315,000 from holding VINACAPITAL VN100 ETF or generate 21.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.8% |
| Values | Daily Returns |
Armada Hflr Pr vs. VINACAPITAL VN100 ETF
Performance |
| Timeline |
| Armada Hflr Pr |
| VINACAPITAL VN100 ETF |
Armada Hflr and VINACAPITAL VN100 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Armada Hflr and VINACAPITAL VN100
The main advantage of trading using opposite Armada Hflr and VINACAPITAL VN100 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Armada Hflr position performs unexpectedly, VINACAPITAL VN100 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 VINACAPITAL VN100 will offset losses from the drop in VINACAPITAL VN100's long position.| Armada Hflr vs. Modiv Inc | Armada Hflr vs. Precinct Properties New | Armada Hflr vs. Global Net Lease | Armada Hflr vs. NexPoint Diversified Real |
| VINACAPITAL VN100 vs. Idico JSC | VINACAPITAL VN100 vs. Song Hong Garment | VINACAPITAL VN100 vs. Vietnam Medicinal Materials | VINACAPITAL VN100 vs. Alphanam ME |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
Other Complementary Tools
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences |