Correlation Between FPT CAPITAL and KIM GROWTH
Specify exactly 2 symbols:
By analyzing existing cross correlation between FPT CAPITAL VNX50 and KIM GROWTH VN30, you can compare the effects of market volatilities on FPT CAPITAL and KIM GROWTH 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 FPT CAPITAL with a short position of KIM GROWTH. Check out your portfolio center. Please also check ongoing floating volatility patterns of FPT CAPITAL and KIM GROWTH.
Diversification Opportunities for FPT CAPITAL and KIM GROWTH
0.07 | Correlation Coefficient |
Significant diversification
The 3 months correlation between FPT and KIM is 0.07. Overlapping area represents the amount of risk that can be diversified away by holding FPT CAPITAL VNX50 and KIM GROWTH VN30 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KIM GROWTH VN30 and FPT CAPITAL 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 FPT CAPITAL VNX50 are associated (or correlated) with KIM GROWTH. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KIM GROWTH VN30 has no effect on the direction of FPT CAPITAL i.e., FPT CAPITAL and KIM GROWTH go up and down completely randomly.
Pair Corralation between FPT CAPITAL and KIM GROWTH
Assuming the 90 days trading horizon FPT CAPITAL VNX50 is expected to under-perform the KIM GROWTH. In addition to that, FPT CAPITAL is 1.34 times more volatile than KIM GROWTH VN30. It trades about -0.02 of its total potential returns per unit of risk. KIM GROWTH VN30 is currently generating about 0.09 per unit of volatility. If you would invest 710,000 in KIM GROWTH VN30 on September 14, 2024 and sell it today you would earn a total of 182,000 from holding KIM GROWTH VN30 or generate 25.63% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 97.56% |
| Values | Daily Returns |
FPT CAPITAL VNX50 vs. KIM GROWTH VN30
Performance |
| Timeline |
| FPT CAPITAL VNX50 |
| KIM GROWTH VN30 |
FPT CAPITAL and KIM GROWTH Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with FPT CAPITAL and KIM GROWTH
The main advantage of trading using opposite FPT CAPITAL and KIM GROWTH positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if FPT CAPITAL position performs unexpectedly, KIM GROWTH 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 KIM GROWTH will offset losses from the drop in KIM GROWTH's long position.| FPT CAPITAL vs. Idico JSC | FPT CAPITAL vs. Song Hong Garment | FPT CAPITAL vs. Vietnam Medicinal Materials | FPT CAPITAL vs. Alphanam ME |
| KIM GROWTH vs. Idico JSC | KIM GROWTH vs. Song Hong Garment | KIM GROWTH vs. Vietnam Medicinal Materials | KIM GROWTH vs. Alphanam ME |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
Other Complementary Tools
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios |