Correlation Between HNX 30 and POST TELECOMMU
Specify exactly 2 symbols:
By analyzing existing cross correlation between HNX 30 and POST TELECOMMU, you can compare the effects of market volatilities on HNX 30 and POST TELECOMMU 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 POST TELECOMMU. Check out your portfolio center. Please also check ongoing floating volatility patterns of HNX 30 and POST TELECOMMU.
Diversification Opportunities for HNX 30 and POST TELECOMMU
-0.26 | Correlation Coefficient |
Very good diversification
The 3 months correlation between HNX and POST is -0.26. Overlapping area represents the amount of risk that can be diversified away by holding HNX 30 and POST TELECOMMU in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on POST TELECOMMU 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 POST TELECOMMU. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of POST TELECOMMU has no effect on the direction of HNX 30 i.e., HNX 30 and POST TELECOMMU go up and down completely randomly.
Pair Corralation between HNX 30 and POST TELECOMMU
Assuming the 90 days trading horizon HNX 30 is expected to under-perform the POST TELECOMMU. But the index apears to be less risky and, when comparing its historical volatility, HNX 30 is 2.79 times less risky than POST TELECOMMU. The index trades about -0.12 of its potential returns per unit of risk. The POST TELECOMMU is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 3,070,000 in POST TELECOMMU on August 28, 2024 and sell it today you would earn a total of 80,000 from holding POST TELECOMMU or generate 2.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 80.95% |
| Values | Daily Returns |
HNX 30 vs. POST TELECOMMU
Performance |
| Timeline |
HNX 30 and POST TELECOMMU Volatility Contrast
Predicted Return Density |
| Returns |
HNX 30
Pair trading matchups for HNX 30
POST TELECOMMU
Pair trading matchups for POST TELECOMMU
Pair Trading with HNX 30 and POST TELECOMMU
The main advantage of trading using opposite HNX 30 and POST TELECOMMU positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HNX 30 position performs unexpectedly, POST TELECOMMU 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 POST TELECOMMU will offset losses from the drop in POST TELECOMMU's long position.| HNX 30 vs. Vien Dong Investment | HNX 30 vs. Saigon Telecommunication Technologies | HNX 30 vs. Vu Dang Investment | HNX 30 vs. Petrovietnam Technical Services |
| POST TELECOMMU vs. FIT INVEST JSC | POST TELECOMMU vs. Damsan JSC | POST TELECOMMU vs. An Phat Plastic | POST TELECOMMU 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 CEOs Directory module to screen CEOs from public companies around the world.
Other Complementary Tools
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device |