Correlation Between Dong A and VN 30
Specify exactly 2 symbols:
By analyzing existing cross correlation between Dong A Hotel and VN 30, you can compare the effects of market volatilities on Dong A and VN 30 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 Dong A with a short position of VN 30. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dong A and VN 30.
Diversification Opportunities for Dong A and VN 30
Very weak diversification
The 3 months correlation between Dong and VNI30 is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding Dong A Hotel and VN 30 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on VN 30 and Dong A 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 Dong A Hotel are associated (or correlated) with VN 30. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of VN 30 has no effect on the direction of Dong A i.e., Dong A and VN 30 go up and down completely randomly.
Pair Corralation between Dong A and VN 30
Assuming the 90 days trading horizon Dong A is expected to generate 2.97 times less return on investment than VN 30. But when comparing it to its historical volatility, Dong A Hotel is 1.55 times less risky than VN 30. It trades about 0.08 of its potential returns per unit of risk. VN 30 is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 130,195 in VN 30 on September 13, 2024 and sell it today you would earn a total of 3,972 from holding VN 30 or generate 3.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Dong A Hotel vs. VN 30
Performance |
| Timeline |
Dong A and VN 30 Volatility Contrast
Predicted Return Density |
| Returns |
Dong A Hotel
Pair trading matchups for Dong A
VN 30
Pair trading matchups for VN 30
Pair Trading with Dong A and VN 30
The main advantage of trading using opposite Dong A and VN 30 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dong A position performs unexpectedly, VN 30 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 VN 30 will offset losses from the drop in VN 30's long position.| Dong A vs. Song Hong Garment | Dong A vs. Alphanam ME | Dong A vs. Hochiminh City Metal | Dong A vs. Atesco Industrial Cartering |
| VN 30 vs. BIDV Insurance Corp | VN 30 vs. Ba Ria Thermal | VN 30 vs. Nam Kim Steel | VN 30 vs. Petrolimex Insurance Corp |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
Other Complementary Tools
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Latest Portfolios Quick portfolio dashboard that showcases your latest portfolios | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Commodity Directory Find actively traded commodities issued by global exchanges |