Correlation Between HNX 30 and Bentre Aquaproduct
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By analyzing existing cross correlation between HNX 30 and Bentre Aquaproduct Import, you can compare the effects of market volatilities on HNX 30 and Bentre Aquaproduct 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 HNX 30 with a short position of Bentre Aquaproduct. Check out your portfolio center. Please also check ongoing floating volatility patterns of HNX 30 and Bentre Aquaproduct.
Diversification Opportunities for HNX 30 and Bentre Aquaproduct
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between HNX and Bentre is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding HNX 30 and Bentre Aquaproduct Import in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bentre Aquaproduct Import and HNX 30 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 HNX 30 are associated (or correlated) with Bentre Aquaproduct. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bentre Aquaproduct Import has no effect on the direction of HNX 30 i.e., HNX 30 and Bentre Aquaproduct go up and down completely randomly.
Pair Corralation between HNX 30 and Bentre Aquaproduct
Assuming the 90 days trading horizon HNX 30 is expected to generate 2.48 times less return on investment than Bentre Aquaproduct. But when comparing it to its historical volatility, HNX 30 is 1.32 times less risky than Bentre Aquaproduct. It trades about 0.03 of its potential returns per unit of risk. Bentre Aquaproduct Import is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 2,964,027 in Bentre Aquaproduct Import on August 31, 2024 and sell it today you would earn a total of 985,973 from holding Bentre Aquaproduct Import or generate 33.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 75.2% |
| Values | Daily Returns |
HNX 30 vs. Bentre Aquaproduct Import
Performance |
| Timeline |
HNX 30 and Bentre Aquaproduct Volatility Contrast
Predicted Return Density |
| Returns |
HNX 30
Pair trading matchups for HNX 30
Bentre Aquaproduct Import
Pair trading matchups for Bentre Aquaproduct
Pair Trading with HNX 30 and Bentre Aquaproduct
The main advantage of trading using opposite HNX 30 and Bentre Aquaproduct positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HNX 30 position performs unexpectedly, Bentre Aquaproduct 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 Bentre Aquaproduct will offset losses from the drop in Bentre Aquaproduct's long position.| HNX 30 vs. PVI Reinsurance Corp | HNX 30 vs. Binh Duong Trade | HNX 30 vs. Vietnam JSCmmercial Bank | HNX 30 vs. Petrolimex Insurance Corp |
| Bentre Aquaproduct vs. FIT INVEST JSC | Bentre Aquaproduct vs. Damsan JSC | Bentre Aquaproduct vs. An Phat Plastic | Bentre Aquaproduct 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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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