Correlation Between HNX 30 and FPT Corp
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By analyzing existing cross correlation between HNX 30 and FPT Corp, you can compare the effects of market volatilities on HNX 30 and FPT Corp 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 HNX 30 with a short position of FPT Corp. Check out your portfolio center. Please also check ongoing floating volatility patterns of HNX 30 and FPT Corp.
Diversification Opportunities for HNX 30 and FPT Corp
Good diversification
The 3 months correlation between HNX and FPT is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding HNX 30 and FPT Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FPT Corp and HNX 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 HNX 30 are associated (or correlated) with FPT Corp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FPT Corp has no effect on the direction of HNX 30 i.e., HNX 30 and FPT Corp go up and down completely randomly.
Pair Corralation between HNX 30 and FPT Corp
Assuming the 90 days trading horizon HNX 30 is expected to under-perform the FPT Corp. But the index apears to be less risky and, when comparing its historical volatility, HNX 30 is 1.48 times less risky than FPT Corp. The index trades about -0.16 of its potential returns per unit of risk. The FPT Corp is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 13,366,700 in FPT Corp on October 18, 2024 and sell it today you would earn a total of 1,183,300 from holding FPT Corp or generate 8.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
HNX 30 vs. FPT Corp
Performance |
| Timeline |
HNX 30 and FPT Corp Volatility Contrast
Predicted Return Density |
| Returns |
HNX 30
Pair trading matchups for HNX 30
FPT Corp
Pair trading matchups for FPT Corp
Pair Trading with HNX 30 and FPT Corp
The main advantage of trading using opposite HNX 30 and FPT Corp positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HNX 30 position performs unexpectedly, FPT Corp 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 FPT Corp will offset losses from the drop in FPT Corp's long position.| HNX 30 vs. PetroVietnam Drilling Well | HNX 30 vs. Transport and Industry | HNX 30 vs. Riverway Management JSC | HNX 30 vs. Dong A Hotel |
| FPT Corp vs. FIT INVEST JSC | FPT Corp vs. Damsan JSC | FPT Corp vs. An Phat Plastic | FPT Corp vs. APG Securities Joint |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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