Correlation Between SSIAM VN30 and Dow Jones
Specify exactly 2 symbols:
By analyzing existing cross correlation between SSIAM VN30 ETF and Dow Jones Industrial, you can compare the effects of market volatilities on SSIAM VN30 and Dow Jones 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 SSIAM VN30 with a short position of Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of SSIAM VN30 and Dow Jones.
Diversification Opportunities for SSIAM VN30 and Dow Jones
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between SSIAM and Dow is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding SSIAM VN30 ETF and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones Industrial and SSIAM VN30 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 SSIAM VN30 ETF are associated (or correlated) with Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of SSIAM VN30 i.e., SSIAM VN30 and Dow Jones go up and down completely randomly.
Pair Corralation between SSIAM VN30 and Dow Jones
Assuming the 90 days trading horizon SSIAM VN30 ETF is expected to under-perform the Dow Jones. But the etf apears to be less risky and, when comparing its historical volatility, SSIAM VN30 ETF is 1.08 times less risky than Dow Jones. The etf trades about -0.12 of its potential returns per unit of risk. The Dow Jones Industrial is currently generating about 0.37 of returns per unit of risk over similar time horizon. If you would invest 4,176,346 in Dow Jones Industrial on September 1, 2024 and sell it today you would earn a total of 314,719 from holding Dow Jones Industrial or generate 7.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 91.3% |
| Values | Daily Returns |
SSIAM VN30 ETF vs. Dow Jones Industrial
Performance |
| Timeline |
SSIAM VN30 and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
SSIAM VN30 ETF
Pair trading matchups for SSIAM VN30
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with SSIAM VN30 and Dow Jones
The main advantage of trading using opposite SSIAM VN30 and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SSIAM VN30 position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' long position.| SSIAM VN30 vs. SSIAM VNFIN LEAD | SSIAM VN30 vs. SSIAM VNX50 ETF | SSIAM VN30 vs. KIM GROWTH VN30 | SSIAM VN30 vs. FPT CAPITAL VNX50 |
| Dow Jones vs. Catalyst Pharmaceuticals | Dow Jones vs. Sphere Entertainment Co | Dow Jones vs. National CineMedia | Dow Jones vs. Mink Therapeutics |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
Other Complementary Tools
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume |