Correlation Between HNX 30 and Vu Dang
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By analyzing existing cross correlation between HNX 30 and Vu Dang Investment, you can compare the effects of market volatilities on HNX 30 and Vu Dang 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 Vu Dang. Check out your portfolio center. Please also check ongoing floating volatility patterns of HNX 30 and Vu Dang.
Diversification Opportunities for HNX 30 and Vu Dang
Very weak diversification
The 3 months correlation between HNX and SVD is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding HNX 30 and Vu Dang Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vu Dang Investment 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 Vu Dang. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vu Dang Investment has no effect on the direction of HNX 30 i.e., HNX 30 and Vu Dang go up and down completely randomly.
Pair Corralation between HNX 30 and Vu Dang
Assuming the 90 days trading horizon HNX 30 is expected to generate 0.35 times more return on investment than Vu Dang. However, HNX 30 is 2.88 times less risky than Vu Dang. It trades about 0.27 of its potential returns per unit of risk. Vu Dang Investment is currently generating about -0.04 per unit of risk. If you would invest 45,715 in HNX 30 on November 8, 2024 and sell it today you would earn a total of 1,966 from holding HNX 30 or generate 4.3% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
HNX 30 vs. Vu Dang Investment
Performance |
| Timeline |
HNX 30 and Vu Dang Volatility Contrast
Predicted Return Density |
| Returns |
HNX 30
Pair trading matchups for HNX 30
Vu Dang Investment
Pair trading matchups for Vu Dang
Pair Trading with HNX 30 and Vu Dang
The main advantage of trading using opposite HNX 30 and Vu Dang positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HNX 30 position performs unexpectedly, Vu Dang 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 Vu Dang will offset losses from the drop in Vu Dang's long position.| HNX 30 vs. SMC Investment Trading | HNX 30 vs. Hochiminh City Metal | HNX 30 vs. Vietnam Petroleum Transport | HNX 30 vs. PetroVietnam Transportation Corp |
| Vu Dang vs. Vinhomes JSC | Vu Dang vs. SMC Investment Trading | Vu Dang vs. Everland Investment JSC | Vu Dang vs. Ducgiang Chemicals Detergent |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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