Correlation Between HNX 30 and Van Phat
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By analyzing existing cross correlation between HNX 30 and Van Phat Hung, you can compare the effects of market volatilities on HNX 30 and Van Phat 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 Van Phat. Check out your portfolio center. Please also check ongoing floating volatility patterns of HNX 30 and Van Phat.
Diversification Opportunities for HNX 30 and Van Phat
Poor diversification
The 3 months correlation between HNX and Van is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding HNX 30 and Van Phat Hung in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Van Phat Hung 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 Van Phat. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Van Phat Hung has no effect on the direction of HNX 30 i.e., HNX 30 and Van Phat go up and down completely randomly.
Pair Corralation between HNX 30 and Van Phat
Assuming the 90 days trading horizon HNX 30 is expected to generate 1.68 times less return on investment than Van Phat. But when comparing it to its historical volatility, HNX 30 is 1.51 times less risky than Van Phat. It trades about 0.04 of its potential returns per unit of risk. Van Phat Hung is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 484,289 in Van Phat Hung on August 27, 2024 and sell it today you would earn a total of 231,711 from holding Van Phat Hung or generate 47.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 99.59% |
| Values | Daily Returns |
HNX 30 vs. Van Phat Hung
Performance |
| Timeline |
HNX 30 and Van Phat Volatility Contrast
Predicted Return Density |
| Returns |
HNX 30
Pair trading matchups for HNX 30
Van Phat Hung
Pair trading matchups for Van Phat
Pair Trading with HNX 30 and Van Phat
The main advantage of trading using opposite HNX 30 and Van Phat positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HNX 30 position performs unexpectedly, Van Phat 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 Van Phat will offset losses from the drop in Van Phat'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 |
| Van Phat vs. Idico JSC | Van Phat vs. Hochiminh City Metal | Van Phat vs. Atesco Industrial Cartering | Van Phat vs. Danang Education Investment |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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