Correlation Between SSIAM VN30 and KIM GROWTH
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By analyzing existing cross correlation between SSIAM VN30 ETF and KIM GROWTH VN30, you can compare the effects of market volatilities on SSIAM VN30 and KIM GROWTH 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 KIM GROWTH. Check out your portfolio center. Please also check ongoing floating volatility patterns of SSIAM VN30 and KIM GROWTH.
Diversification Opportunities for SSIAM VN30 and KIM GROWTH
0.64 | Correlation Coefficient |
Poor diversification
The 3 months correlation between SSIAM and KIM is 0.64. Overlapping area represents the amount of risk that can be diversified away by holding SSIAM VN30 ETF and KIM GROWTH VN30 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KIM GROWTH VN30 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 KIM GROWTH. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KIM GROWTH VN30 has no effect on the direction of SSIAM VN30 i.e., SSIAM VN30 and KIM GROWTH go up and down completely randomly.
Pair Corralation between SSIAM VN30 and KIM GROWTH
Assuming the 90 days trading horizon SSIAM VN30 is expected to generate 1.07 times less return on investment than KIM GROWTH. But when comparing it to its historical volatility, SSIAM VN30 ETF is 1.19 times less risky than KIM GROWTH. It trades about 0.1 of its potential returns per unit of risk. KIM GROWTH VN30 is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 710,000 in KIM GROWTH VN30 on September 14, 2024 and sell it today you would earn a total of 182,000 from holding KIM GROWTH VN30 or generate 25.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 97.56% |
| Values | Daily Returns |
SSIAM VN30 ETF vs. KIM GROWTH VN30
Performance |
| Timeline |
| SSIAM VN30 ETF |
| KIM GROWTH VN30 |
SSIAM VN30 and KIM GROWTH Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SSIAM VN30 and KIM GROWTH
The main advantage of trading using opposite SSIAM VN30 and KIM GROWTH positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SSIAM VN30 position performs unexpectedly, KIM GROWTH 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 KIM GROWTH will offset losses from the drop in KIM GROWTH's long position.| SSIAM VN30 vs. Idico JSC | SSIAM VN30 vs. Song Hong Garment | SSIAM VN30 vs. Vietnam Medicinal Materials | SSIAM VN30 vs. Alphanam ME |
| KIM GROWTH vs. Idico JSC | KIM GROWTH vs. Song Hong Garment | KIM GROWTH vs. Vietnam Medicinal Materials | KIM GROWTH 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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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