Correlation Between HNX 30 and POT
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By analyzing existing cross correlation between HNX 30 and PostTelecommunication Equipment, you can compare the effects of market volatilities on HNX 30 and POT 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 POT. Check out your portfolio center. Please also check ongoing floating volatility patterns of HNX 30 and POT.
Diversification Opportunities for HNX 30 and POT
Very weak diversification
The 3 months correlation between HNX and POT is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding HNX 30 and PostTelecommunication Equipmen in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on PostTelecommunication 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 POT. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of PostTelecommunication has no effect on the direction of HNX 30 i.e., HNX 30 and POT go up and down completely randomly.
Pair Corralation between HNX 30 and POT
Assuming the 90 days trading horizon HNX 30 is expected to generate 0.44 times more return on investment than POT. However, HNX 30 is 2.29 times less risky than POT. It trades about 0.06 of its potential returns per unit of risk. PostTelecommunication Equipment is currently generating about 0.01 per unit of risk. If you would invest 31,895 in HNX 30 on September 14, 2024 and sell it today you would earn a total of 16,653 from holding HNX 30 or generate 52.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 74.64% |
| Values | Daily Returns |
HNX 30 vs. PostTelecommunication Equipmen
Performance |
| Timeline |
HNX 30 and POT Volatility Contrast
Predicted Return Density |
| Returns |
HNX 30
Pair trading matchups for HNX 30
PostTelecommunication Equipment
Pair trading matchups for POT
Pair Trading with HNX 30 and POT
The main advantage of trading using opposite HNX 30 and POT positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HNX 30 position performs unexpectedly, POT 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 POT will offset losses from the drop in POT's long position.| HNX 30 vs. Book And Educational | HNX 30 vs. Transport and Industry | HNX 30 vs. Hai An Transport | HNX 30 vs. Tri Viet Management |
| POT vs. Vinhomes JSC | POT vs. TDG Global Investment | POT vs. Din Capital Investment | POT vs. Thanh Dat Investment |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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