Correlation Between Mobile World and HNX 30
Specify exactly 2 symbols:
By analyzing existing cross correlation between Mobile World Investment and HNX 30, you can compare the effects of market volatilities on Mobile World 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 Mobile World with a short position of HNX 30. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mobile World and HNX 30.
Diversification Opportunities for Mobile World and HNX 30
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Mobile and HNX is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Mobile World Investment and HNX 30 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HNX 30 and Mobile World 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 Mobile World 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 Mobile World i.e., Mobile World and HNX 30 go up and down completely randomly.
Pair Corralation between Mobile World and HNX 30
Assuming the 90 days trading horizon Mobile World Investment is expected to generate 1.58 times more return on investment than HNX 30. However, Mobile World is 1.58 times more volatile than HNX 30. It trades about 0.08 of its potential returns per unit of risk. HNX 30 is currently generating about -0.01 per unit of risk. If you would invest 4,216,483 in Mobile World Investment on September 4, 2024 and sell it today you would earn a total of 1,823,517 from holding Mobile World Investment or generate 43.25% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 99.18% |
| Values | Daily Returns |
Mobile World Investment vs. HNX 30
Performance |
| Timeline |
Mobile World and HNX 30 Volatility Contrast
Predicted Return Density |
| Returns |
Mobile World Investment
Pair trading matchups for Mobile World
Pair Trading with Mobile World and HNX 30
The main advantage of trading using opposite Mobile World and HNX 30 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mobile World 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.| Mobile World vs. Petrolimex International Trading | Mobile World vs. Construction And Investment | Mobile World vs. Industrial Urban Development | Mobile World vs. 577 Investment Corp |
| HNX 30 vs. Pacific Petroleum Transportation | HNX 30 vs. Petrovietnam Technical Services | HNX 30 vs. Petrolimex Petrochemical JSC | HNX 30 vs. PetroVietnam Transportation 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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
Other Complementary Tools
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume |