Correlation Between TDG Global and HNX 30
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By analyzing existing cross correlation between TDG Global Investment and HNX 30, you can compare the effects of market volatilities on TDG Global 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 TDG Global with a short position of HNX 30. Check out your portfolio center. Please also check ongoing floating volatility patterns of TDG Global and HNX 30.
Diversification Opportunities for TDG Global and HNX 30
0.83 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between TDG and HNX is 0.83. Overlapping area represents the amount of risk that can be diversified away by holding TDG Global Investment and HNX 30 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HNX 30 and TDG Global 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 TDG Global 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 TDG Global i.e., TDG Global and HNX 30 go up and down completely randomly.
Pair Corralation between TDG Global and HNX 30
Assuming the 90 days trading horizon TDG Global Investment is expected to under-perform the HNX 30. In addition to that, TDG Global is 1.96 times more volatile than HNX 30. It trades about -0.05 of its total potential returns per unit of risk. HNX 30 is currently generating about 0.04 per unit of volatility. If you would invest 47,660 in HNX 30 on September 15, 2024 and sell it today you would earn a total of 387.00 from holding HNX 30 or generate 0.81% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
TDG Global Investment vs. HNX 30
Performance |
| Timeline |
TDG Global and HNX 30 Volatility Contrast
Predicted Return Density |
| Returns |
TDG Global Investment
Pair trading matchups for TDG Global
HNX 30
Pair trading matchups for HNX 30
Pair Trading with TDG Global and HNX 30
The main advantage of trading using opposite TDG Global and HNX 30 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TDG Global 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.| TDG Global vs. Bich Chi Food | TDG Global vs. Pha Le Plastics | TDG Global vs. VTC Telecommunications JSC | TDG Global vs. Pacific Petroleum Transportation |
| HNX 30 vs. Tin Nghia Industrial | HNX 30 vs. TDG Global Investment | HNX 30 vs. Vu Dang Investment | HNX 30 vs. Dinhvu Port Investment |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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