Correlation Between Transport and VN 30
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By analyzing existing cross correlation between Transport and Industry and VN 30, you can compare the effects of market volatilities on Transport and VN 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 Transport with a short position of VN 30. Check out your portfolio center. Please also check ongoing floating volatility patterns of Transport and VN 30.
Diversification Opportunities for Transport and VN 30
Average diversification
The 3 months correlation between Transport and VNI30 is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding Transport and Industry and VN 30 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on VN 30 and Transport 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 Transport and Industry are associated (or correlated) with VN 30. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of VN 30 has no effect on the direction of Transport i.e., Transport and VN 30 go up and down completely randomly.
Pair Corralation between Transport and VN 30
Assuming the 90 days trading horizon Transport is expected to generate 14.62 times less return on investment than VN 30. In addition to that, Transport is 1.56 times more volatile than VN 30. It trades about 0.01 of its total potential returns per unit of risk. VN 30 is currently generating about 0.15 per unit of volatility. If you would invest 130,195 in VN 30 on September 13, 2024 and sell it today you would earn a total of 3,972 from holding VN 30 or generate 3.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Transport and Industry vs. VN 30
Performance |
| Timeline |
Transport and VN 30 Volatility Contrast
Predicted Return Density |
| Returns |
Transport and Industry
Pair trading matchups for Transport
VN 30
Pair trading matchups for VN 30
Pair Trading with Transport and VN 30
The main advantage of trading using opposite Transport and VN 30 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Transport position performs unexpectedly, VN 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 VN 30 will offset losses from the drop in VN 30's long position.| Transport vs. FIT INVEST JSC | Transport vs. Damsan JSC | Transport vs. An Phat Plastic | Transport vs. Alphanam ME |
| VN 30 vs. BIDV Insurance Corp | VN 30 vs. Ba Ria Thermal | VN 30 vs. Nam Kim Steel | VN 30 vs. Petrolimex Insurance 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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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