Correlation Between HNX 30 and VN 30
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By analyzing existing cross correlation between HNX 30 and VN 30, you can compare the effects of market volatilities on HNX 30 and VN 30 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 VN 30. Check out your portfolio center. Please also check ongoing floating volatility patterns of HNX 30 and VN 30.
Diversification Opportunities for HNX 30 and VN 30
Poor diversification
The 3 months correlation between HNX and VNI30 is 0.6. Overlapping area represents the amount of risk that can be diversified away by holding HNX 30 and VN 30 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on VN 30 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 VN 30. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of VN 30 has no effect on the direction of HNX 30 i.e., HNX 30 and VN 30 go up and down completely randomly.
Pair Corralation between HNX 30 and VN 30
Assuming the 90 days trading horizon HNX 30 is expected to generate 1.21 times less return on investment than VN 30. In addition to that, HNX 30 is 1.7 times more volatile than VN 30. It trades about 0.02 of its total potential returns per unit of risk. VN 30 is currently generating about 0.04 per unit of volatility. If you would invest 116,826 in VN 30 on September 12, 2024 and sell it today you would earn a total of 16,759 from holding VN 30 or generate 14.35% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 99.15% |
| Values | Daily Returns |
HNX 30 vs. VN 30
Performance |
| Timeline |
HNX 30 and VN 30 Volatility Contrast
Predicted Return Density |
| Returns |
HNX 30
Pair trading matchups for HNX 30
VN 30
Pair trading matchups for VN 30
Pair Trading with HNX 30 and VN 30
The main advantage of trading using opposite HNX 30 and VN 30 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HNX 30 position performs unexpectedly, VN 30 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 VN 30 will offset losses from the drop in VN 30's long position.| HNX 30 vs. Hanoi Beer Alcohol | HNX 30 vs. Elcom Technology Communications | HNX 30 vs. Pacific Petroleum Transportation | HNX 30 vs. Fecon Mining JSC |
| VN 30 vs. Transport and Industry | VN 30 vs. Dong A Hotel | VN 30 vs. Hochiminh City Metal | VN 30 vs. Danang Rubber JSC |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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