Correlation Between Microsoft and SSIAM VN30
Specify exactly 2 symbols:
By analyzing existing cross correlation between Microsoft and SSIAM VN30 ETF, you can compare the effects of market volatilities on Microsoft and SSIAM VN30 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 Microsoft with a short position of SSIAM VN30. Check out your portfolio center. Please also check ongoing floating volatility patterns of Microsoft and SSIAM VN30.
Diversification Opportunities for Microsoft and SSIAM VN30
0.11 | Correlation Coefficient |
Average diversification
The 3 months correlation between Microsoft and SSIAM is 0.11. Overlapping area represents the amount of risk that can be diversified away by holding Microsoft and SSIAM VN30 ETF in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SSIAM VN30 ETF and Microsoft 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 Microsoft are associated (or correlated) with SSIAM VN30. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SSIAM VN30 ETF has no effect on the direction of Microsoft i.e., Microsoft and SSIAM VN30 go up and down completely randomly.
Pair Corralation between Microsoft and SSIAM VN30
Given the investment horizon of 90 days Microsoft is expected to generate 1.31 times more return on investment than SSIAM VN30. However, Microsoft is 1.31 times more volatile than SSIAM VN30 ETF. It trades about 0.19 of its potential returns per unit of risk. SSIAM VN30 ETF is currently generating about -0.12 per unit of risk. If you would invest 40,554 in Microsoft on September 1, 2024 and sell it today you would earn a total of 1,792 from holding Microsoft or generate 4.42% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 91.3% |
| Values | Daily Returns |
Microsoft vs. SSIAM VN30 ETF
Performance |
| Timeline |
| Microsoft |
| SSIAM VN30 ETF |
Microsoft and SSIAM VN30 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Microsoft and SSIAM VN30
The main advantage of trading using opposite Microsoft and SSIAM VN30 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Microsoft position performs unexpectedly, SSIAM VN30 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 SSIAM VN30 will offset losses from the drop in SSIAM VN30's long position.| Microsoft vs. Palo Alto Networks | Microsoft vs. Uipath Inc | Microsoft vs. Block Inc | Microsoft vs. Adobe Systems Incorporated |
| SSIAM VN30 vs. SSIAM VNFIN LEAD | SSIAM VN30 vs. SSIAM VNX50 ETF | SSIAM VN30 vs. KIM GROWTH VN30 | SSIAM VN30 vs. FPT CAPITAL VNX50 |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Other Complementary Tools
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency |