Correlation Between HNX 30 and Vietnam Technological
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By analyzing existing cross correlation between HNX 30 and Vietnam Technological And, you can compare the effects of market volatilities on HNX 30 and Vietnam Technological 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 Vietnam Technological. Check out your portfolio center. Please also check ongoing floating volatility patterns of HNX 30 and Vietnam Technological.
Diversification Opportunities for HNX 30 and Vietnam Technological
-0.02 | Correlation Coefficient |
Good diversification
The 3 months correlation between HNX and Vietnam is -0.02. Overlapping area represents the amount of risk that can be diversified away by holding HNX 30 and Vietnam Technological And in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vietnam Technological And 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 Vietnam Technological. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vietnam Technological And has no effect on the direction of HNX 30 i.e., HNX 30 and Vietnam Technological go up and down completely randomly.
Pair Corralation between HNX 30 and Vietnam Technological
Assuming the 90 days trading horizon HNX 30 is expected to under-perform the Vietnam Technological. But the index apears to be less risky and, when comparing its historical volatility, HNX 30 is 1.25 times less risky than Vietnam Technological. The index trades about -0.12 of its potential returns per unit of risk. The Vietnam Technological And is currently generating about -0.01 of returns per unit of risk over similar time horizon. If you would invest 2,365,000 in Vietnam Technological And on August 27, 2024 and sell it today you would lose (10,000) from holding Vietnam Technological And or give up 0.42% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
HNX 30 vs. Vietnam Technological And
Performance |
| Timeline |
HNX 30 and Vietnam Technological Volatility Contrast
Predicted Return Density |
| Returns |
HNX 30
Pair trading matchups for HNX 30
Vietnam Technological And
Pair trading matchups for Vietnam Technological
Pair Trading with HNX 30 and Vietnam Technological
The main advantage of trading using opposite HNX 30 and Vietnam Technological positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HNX 30 position performs unexpectedly, Vietnam Technological 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 Vietnam Technological will offset losses from the drop in Vietnam Technological's long position.| HNX 30 vs. Vien Dong Investment | HNX 30 vs. Saigon Telecommunication Technologies | HNX 30 vs. Vu Dang Investment | HNX 30 vs. Petrovietnam Technical Services |
| Vietnam Technological vs. Vina2 Investment and | Vietnam Technological vs. Tng Investment And | Vietnam Technological vs. Hai An Transport | Vietnam Technological vs. 577 Investment Corp |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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