Correlation Between PVI Reinsurance and HNX 30
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By analyzing existing cross correlation between PVI Reinsurance Corp and HNX 30, you can compare the effects of market volatilities on PVI Reinsurance 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 PVI Reinsurance with a short position of HNX 30. Check out your portfolio center. Please also check ongoing floating volatility patterns of PVI Reinsurance and HNX 30.
Diversification Opportunities for PVI Reinsurance and HNX 30
-0.55 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between PVI and HNX is -0.55. Overlapping area represents the amount of risk that can be diversified away by holding PVI Reinsurance Corp and HNX 30 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HNX 30 and PVI Reinsurance 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 PVI Reinsurance Corp 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 PVI Reinsurance i.e., PVI Reinsurance and HNX 30 go up and down completely randomly.
Pair Corralation between PVI Reinsurance and HNX 30
Assuming the 90 days trading horizon PVI Reinsurance Corp is expected to generate 3.59 times more return on investment than HNX 30. However, PVI Reinsurance is 3.59 times more volatile than HNX 30. It trades about 0.02 of its potential returns per unit of risk. HNX 30 is currently generating about -0.02 per unit of risk. If you would invest 1,960,000 in PVI Reinsurance Corp on November 7, 2024 and sell it today you would earn a total of 0.00 from holding PVI Reinsurance Corp or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 87.5% |
| Values | Daily Returns |
PVI Reinsurance Corp vs. HNX 30
Performance |
| Timeline |
PVI Reinsurance and HNX 30 Volatility Contrast
Predicted Return Density |
| Returns |
PVI Reinsurance Corp
Pair trading matchups for PVI Reinsurance
HNX 30
Pair trading matchups for HNX 30
Pair Trading with PVI Reinsurance and HNX 30
The main advantage of trading using opposite PVI Reinsurance and HNX 30 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PVI Reinsurance 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.| PVI Reinsurance vs. Elcom Technology Communications | PVI Reinsurance vs. Innovative Technology Development | PVI Reinsurance vs. HVC Investment and |
| HNX 30 vs. Hai An Transport | HNX 30 vs. Elcom Technology Communications | HNX 30 vs. Innovative Technology Development | HNX 30 vs. Transport and Industry |
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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