What is VN-Index? How to calculate

The VN-Index or Vietnam Stock Index is a capitalization-weighted index of all the companies listed on the Ho Chi Minh City Stock Exchange (HoSE). The index was created with a base index value of 100 as of July 28, 2000.

Based on this index, one can know the specific size and value of stocks at the present time, compared to the price based on the base date of July 28, 2000.

VN-Index history is also used in Beta calculation for a stock in VN-Index.

VN-Index Calculation method

The VN-Index is calculated by the State Securities Commission of Vietnam using the method Passcher Price Index method according to daily price movements of all stocks listed on HoSE. Here is the formula:

VNIndex = \frac{\sum_{i=1}^{N}P_{1i}Q_{1i}}{\sum_{i=1}^{N}P_{0i}Q_{0i}}*100


  • P1i: The current price of the stock i
  • Q1i: The current listed volume of stock i
  • iP0i: The price of the stock i at the base date
  • Q0i: The listed volume of stock i at the base date

Or, in a simple words:

VNIndex = \frac{\text{Total }\text{Current }\text{Market }\text{Value}}{\text{Total }\text{Original }\text{Market }\text{Value}}*100

For example: On October 5, 2022, the VNIndex ended trading session with 1,104.26 points, which means that the total market value as of the day of all stocks listed on HoSE is 11.0426 times comparing to the value at the base date.

VN-Index Adjustment

New Listing or Capital Increasing

When there is a new listing on the market or a listing organization increases capital, the adjustment ratio is adjusted as follows:



  • D1: New adjustment factor
  • D0: Old adjustment factor, which is calculated as D_{0}=\sum_{i=1}^{N}P_{0i}Q_{0i}
  • V1: Total value of all the current public shares, which is calculated as V_{1}=\sum_{i=1}^{N}P_{1i}Q_{1i}
  • AV: adjustment value of shares

Delisting or Capital Deduction

When delisting or the listing organization conducts a capital reduction, the new adjustment ratio will be calculated as follows:


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