Correlation Between VN 30 and Ha Long
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By analyzing existing cross correlation between VN 30 and Ha Long Investment, you can compare the effects of market volatilities on VN 30 and Ha Long 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 VN 30 with a short position of Ha Long. Check out your portfolio center. Please also check ongoing floating volatility patterns of VN 30 and Ha Long.
Diversification Opportunities for VN 30 and Ha Long
Very weak diversification
The 3 months correlation between VNI30 and HID is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding VN 30 and Ha Long Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ha Long Investment and VN 30 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 VN 30 are associated (or correlated) with Ha Long. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ha Long Investment has no effect on the direction of VN 30 i.e., VN 30 and Ha Long go up and down completely randomly.
Pair Corralation between VN 30 and Ha Long
Assuming the 90 days trading horizon VN 30 is expected to generate 0.53 times more return on investment than Ha Long. However, VN 30 is 1.87 times less risky than Ha Long. It trades about 0.05 of its potential returns per unit of risk. Ha Long Investment is currently generating about -0.02 per unit of risk. If you would invest 103,742 in VN 30 on September 2, 2024 and sell it today you would earn a total of 27,384 from holding VN 30 or generate 26.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
VN 30 vs. Ha Long Investment
Performance |
| Timeline |
VN 30 and Ha Long Volatility Contrast
Predicted Return Density |
| Returns |
VN 30
Pair trading matchups for VN 30
Ha Long Investment
Pair trading matchups for Ha Long
Pair Trading with VN 30 and Ha Long
The main advantage of trading using opposite VN 30 and Ha Long positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if VN 30 position performs unexpectedly, Ha Long 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 Ha Long will offset losses from the drop in Ha Long's long position.| VN 30 vs. PV2 Investment JSC | VN 30 vs. BIDV Insurance Corp | VN 30 vs. Tien Giang Investment | VN 30 vs. Petrolimex Petrochemical JSC |
| Ha Long vs. Thanh Dat Investment | Ha Long vs. Dinhvu Port Investment | Ha Long vs. Vu Dang Investment | Ha Long vs. Hai An Transport |
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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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