Correlation Between Construction and HNX 30
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By analyzing existing cross correlation between Construction And Investment and HNX 30, you can compare the effects of market volatilities on Construction and HNX 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 Construction with a short position of HNX 30. Check out your portfolio center. Please also check ongoing floating volatility patterns of Construction and HNX 30.
Diversification Opportunities for Construction and HNX 30
-0.73 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Construction and HNX is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding Construction And Investment and HNX 30 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HNX 30 and Construction 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 Construction And Investment are associated (or correlated) with HNX 30. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HNX 30 has no effect on the direction of Construction i.e., Construction and HNX 30 go up and down completely randomly.
Pair Corralation between Construction and HNX 30
Assuming the 90 days trading horizon Construction And Investment is expected to generate 2.2 times more return on investment than HNX 30. However, Construction is 2.2 times more volatile than HNX 30. It trades about 0.17 of its potential returns per unit of risk. HNX 30 is currently generating about -0.09 per unit of risk. If you would invest 3,660,000 in Construction And Investment on August 30, 2024 and sell it today you would earn a total of 260,000 from holding Construction And Investment or generate 7.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Construction And Investment vs. HNX 30
Performance |
| Timeline |
Construction and HNX 30 Volatility Contrast
Predicted Return Density |
| Returns |
Construction And Investment
Pair trading matchups for Construction
HNX 30
Pair trading matchups for HNX 30
Pair Trading with Construction and HNX 30
The main advantage of trading using opposite Construction and HNX 30 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Construction position performs unexpectedly, HNX 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 HNX 30 will offset losses from the drop in HNX 30's long position.| Construction vs. Song Hong Construction | Construction vs. 577 Investment Corp | Construction vs. Danang Education Investment | Construction vs. Vu Dang Investment |
| HNX 30 vs. Fecon Mining JSC | HNX 30 vs. Hanoi Beer Alcohol | HNX 30 vs. Construction And Investment | HNX 30 vs. HUD1 Investment and |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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