Correlation Between Ben Thanh and HNX 30
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By analyzing existing cross correlation between Ben Thanh Rubber and HNX 30, you can compare the effects of market volatilities on Ben Thanh 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 Ben Thanh with a short position of HNX 30. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ben Thanh and HNX 30.
Diversification Opportunities for Ben Thanh and HNX 30
Pay attention - limited upside
The 3 months correlation between Ben and HNX is -0.84. Overlapping area represents the amount of risk that can be diversified away by holding Ben Thanh Rubber and HNX 30 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HNX 30 and Ben Thanh 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 Ben Thanh Rubber 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 Ben Thanh i.e., Ben Thanh and HNX 30 go up and down completely randomly.
Pair Corralation between Ben Thanh and HNX 30
Assuming the 90 days trading horizon Ben Thanh Rubber is expected to generate 1.21 times more return on investment than HNX 30. However, Ben Thanh is 1.21 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 0.05 per unit of risk. If you would invest 769,228 in Ben Thanh Rubber on September 26, 2024 and sell it today you would earn a total of 665,772 from holding Ben Thanh Rubber or generate 86.55% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Significant |
Accuracy | 95.71% |
Values | Daily Returns |
Ben Thanh Rubber vs. HNX 30
Performance |
Timeline |
Ben Thanh and HNX 30 Volatility Contrast
Predicted Return Density |
Returns |
Ben Thanh Rubber
Pair trading matchups for Ben Thanh
HNX 30
Pair trading matchups for HNX 30
Pair Trading with Ben Thanh and HNX 30
The main advantage of trading using opposite Ben Thanh and HNX 30 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ben Thanh 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.Ben Thanh vs. FIT INVEST JSC | Ben Thanh vs. Damsan JSC | Ben Thanh vs. An Phat Plastic | Ben Thanh vs. Alphanam ME |
HNX 30 vs. Vietnam Rubber Group | HNX 30 vs. Hochiminh City Metal | HNX 30 vs. Vietnam Technological And | HNX 30 vs. Ben Thanh Rubber |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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