Correlation Between POST TELECOMMU and HNX 30
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By analyzing existing cross correlation between POST TELECOMMU and HNX 30, you can compare the effects of market volatilities on POST TELECOMMU and HNX 30 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 POST TELECOMMU with a short position of HNX 30. Check out your portfolio center. Please also check ongoing floating volatility patterns of POST TELECOMMU and HNX 30.
Diversification Opportunities for POST TELECOMMU and HNX 30
-0.25 | Correlation Coefficient |
Very good diversification
The 3 months correlation between POST and HNX is -0.25. Overlapping area represents the amount of risk that can be diversified away by holding POST TELECOMMU and HNX 30 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HNX 30 and POST TELECOMMU 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 POST TELECOMMU are associated (or correlated) with HNX 30. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HNX 30 has no effect on the direction of POST TELECOMMU i.e., POST TELECOMMU and HNX 30 go up and down completely randomly.
Pair Corralation between POST TELECOMMU and HNX 30
Assuming the 90 days trading horizon POST TELECOMMU is expected to generate 2.38 times more return on investment than HNX 30. However, POST TELECOMMU is 2.38 times more volatile than HNX 30. It trades about 0.0 of its potential returns per unit of risk. HNX 30 is currently generating about -0.06 per unit of risk. If you would invest 3,360,000 in POST TELECOMMU on September 12, 2024 and sell it today you would lose (150,000) from holding POST TELECOMMU or give up 4.46% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 87.3% |
| Values | Daily Returns |
POST TELECOMMU vs. HNX 30
Performance |
| Timeline |
POST TELECOMMU and HNX 30 Volatility Contrast
Predicted Return Density |
| Returns |
POST TELECOMMU
Pair trading matchups for POST TELECOMMU
HNX 30
Pair trading matchups for HNX 30
Pair Trading with POST TELECOMMU and HNX 30
The main advantage of trading using opposite POST TELECOMMU and HNX 30 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if POST TELECOMMU position performs unexpectedly, HNX 30 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 HNX 30 will offset losses from the drop in HNX 30's long position.| POST TELECOMMU vs. FIT INVEST JSC | POST TELECOMMU vs. Damsan JSC | POST TELECOMMU vs. An Phat Plastic | POST TELECOMMU vs. Alphanam ME |
| HNX 30 vs. Hanoi Beer Alcohol | HNX 30 vs. Elcom Technology Communications | HNX 30 vs. Pacific Petroleum Transportation | HNX 30 vs. Fecon Mining JSC |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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