Correlation Between Kosdaq Composite and HNX 30
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By analyzing existing cross correlation between Kosdaq Composite Index and HNX 30, you can compare the effects of market volatilities on Kosdaq Composite 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 Kosdaq Composite with a short position of HNX 30. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kosdaq Composite and HNX 30.
Diversification Opportunities for Kosdaq Composite and HNX 30
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kosdaq and HNX is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Kosdaq Composite Index and HNX 30 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HNX 30 and Kosdaq Composite 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 Kosdaq Composite Index 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 Kosdaq Composite i.e., Kosdaq Composite and HNX 30 go up and down completely randomly.
Pair Corralation between Kosdaq Composite and HNX 30
If you would invest (100.00) in Kosdaq Composite Index on February 1, 2024 and sell it today you would earn a total of 100.00 from holding Kosdaq Composite Index or generate -100.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Kosdaq Composite Index vs. HNX 30
Performance |
Timeline |
Kosdaq Composite and HNX 30 Volatility Contrast
Predicted Return Density |
Returns |
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
HNX 30
Pair trading matchups for HNX 30
Pair Trading with Kosdaq Composite and HNX 30
The main advantage of trading using opposite Kosdaq Composite and HNX 30 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kosdaq Composite 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.Kosdaq Composite vs. Digital Power Communications | Kosdaq Composite vs. Sejong Telecom | Kosdaq Composite vs. Cots Technology Co | Kosdaq Composite vs. Seoul Electronics Telecom |
HNX 30 vs. Everland Investment JSC | HNX 30 vs. VTC Telecommunications JSC | HNX 30 vs. Post and Telecommunications | HNX 30 vs. VietinBank Securities JSC |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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