Correlation Between HNX 30 and DIC Holdings
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By analyzing existing cross correlation between HNX 30 and DIC Holdings Construction, you can compare the effects of market volatilities on HNX 30 and DIC Holdings 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 DIC Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of HNX 30 and DIC Holdings.
Diversification Opportunities for HNX 30 and DIC Holdings
-0.64 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between HNX and DIC is -0.64. Overlapping area represents the amount of risk that can be diversified away by holding HNX 30 and DIC Holdings Construction in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DIC Holdings Construction 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 DIC Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DIC Holdings Construction has no effect on the direction of HNX 30 i.e., HNX 30 and DIC Holdings go up and down completely randomly.
Pair Corralation between HNX 30 and DIC Holdings
Assuming the 90 days trading horizon HNX 30 is expected to generate 0.41 times more return on investment than DIC Holdings. However, HNX 30 is 2.47 times less risky than DIC Holdings. It trades about 0.03 of its potential returns per unit of risk. DIC Holdings Construction is currently generating about 0.0 per unit of risk. If you would invest 41,842 in HNX 30 on August 31, 2024 and sell it today you would earn a total of 6,137 from holding HNX 30 or generate 14.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.73% |
| Values | Daily Returns |
HNX 30 vs. DIC Holdings Construction
Performance |
| Timeline |
HNX 30 and DIC Holdings Volatility Contrast
Predicted Return Density |
| Returns |
HNX 30
Pair trading matchups for HNX 30
DIC Holdings Construction
Pair trading matchups for DIC Holdings
Pair Trading with HNX 30 and DIC Holdings
The main advantage of trading using opposite HNX 30 and DIC Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HNX 30 position performs unexpectedly, DIC Holdings 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 DIC Holdings will offset losses from the drop in DIC Holdings' 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 |
| DIC Holdings vs. FIT INVEST JSC | DIC Holdings vs. Damsan JSC | DIC Holdings vs. An Phat Plastic | DIC Holdings 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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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