Correlation Between HNX 30 and FPT CAPITAL
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By analyzing existing cross correlation between HNX 30 and FPT CAPITAL VNX50, you can compare the effects of market volatilities on HNX 30 and FPT CAPITAL 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 CAPITAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of HNX 30 and FPT CAPITAL.
Diversification Opportunities for HNX 30 and FPT CAPITAL
0.54 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between HNX and FPT is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding HNX 30 and FPT CAPITAL VNX50 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FPT CAPITAL VNX50 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 CAPITAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FPT CAPITAL VNX50 has no effect on the direction of HNX 30 i.e., HNX 30 and FPT CAPITAL go up and down completely randomly.
Pair Corralation between HNX 30 and FPT CAPITAL
Assuming the 90 days trading horizon HNX 30 is expected to generate 0.85 times more return on investment than FPT CAPITAL. However, HNX 30 is 1.18 times less risky than FPT CAPITAL. It trades about 0.01 of its potential returns per unit of risk. FPT CAPITAL VNX50 is currently generating about -0.02 per unit of risk. If you would invest 48,011 in HNX 30 on September 15, 2024 and sell it today you would earn a total of 36.00 from holding HNX 30 or generate 0.07% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 99.25% |
| Values | Daily Returns |
HNX 30 vs. FPT CAPITAL VNX50
Performance |
| Timeline |
HNX 30 and FPT CAPITAL Volatility Contrast
Predicted Return Density |
| Returns |
HNX 30
Pair trading matchups for HNX 30
FPT CAPITAL VNX50
Pair trading matchups for FPT CAPITAL
Pair Trading with HNX 30 and FPT CAPITAL
The main advantage of trading using opposite HNX 30 and FPT CAPITAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HNX 30 position performs unexpectedly, FPT CAPITAL 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 CAPITAL will offset losses from the drop in FPT CAPITAL's long position.| HNX 30 vs. Tin Nghia Industrial | HNX 30 vs. TDG Global Investment | HNX 30 vs. Vu Dang Investment | HNX 30 vs. Dinhvu Port Investment |
| FPT CAPITAL vs. Van Dien Fused | FPT CAPITAL vs. Idico JSC | FPT CAPITAL vs. Song Hong Garment | FPT CAPITAL vs. Vietnam Medicinal Materials |
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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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