Correlation Between Samick Musical and Kosdaq Composite
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By analyzing existing cross correlation between Samick Musical Instruments and Kosdaq Composite Index, you can compare the effects of market volatilities on Samick Musical and Kosdaq Composite 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 Samick Musical with a short position of Kosdaq Composite. Check out your portfolio center. Please also check ongoing floating volatility patterns of Samick Musical and Kosdaq Composite.
Diversification Opportunities for Samick Musical and Kosdaq Composite
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Samick and Kosdaq is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding Samick Musical Instruments and Kosdaq Composite Index in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kosdaq Composite Index and Samick Musical 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 Samick Musical Instruments are associated (or correlated) with Kosdaq Composite. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kosdaq Composite Index has no effect on the direction of Samick Musical i.e., Samick Musical and Kosdaq Composite go up and down completely randomly.
Pair Corralation between Samick Musical and Kosdaq Composite
Assuming the 90 days trading horizon Samick Musical Instruments is expected to generate 1.04 times more return on investment than Kosdaq Composite. However, Samick Musical is 1.04 times more volatile than Kosdaq Composite Index. It trades about 0.15 of its potential returns per unit of risk. Kosdaq Composite Index is currently generating about -0.08 per unit of risk. If you would invest 110,900 in Samick Musical Instruments on September 24, 2024 and sell it today you would earn a total of 7,400 from holding Samick Musical Instruments or generate 6.67% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Samick Musical Instruments vs. Kosdaq Composite Index
Performance |
Timeline |
Samick Musical and Kosdaq Composite Volatility Contrast
Predicted Return Density |
Returns |
Samick Musical Instruments
Pair trading matchups for Samick Musical
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
Pair Trading with Samick Musical and Kosdaq Composite
The main advantage of trading using opposite Samick Musical and Kosdaq Composite positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Samick Musical position performs unexpectedly, Kosdaq Composite 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 Kosdaq Composite will offset losses from the drop in Kosdaq Composite's long position.Samick Musical vs. AptaBio Therapeutics | Samick Musical vs. Wonbang Tech Co | Samick Musical vs. Busan Industrial Co | Samick Musical vs. Busan Ind |
Kosdaq Composite vs. Dongwoo Farm To | Kosdaq Composite vs. Semyung Electric Machinery | Kosdaq Composite vs. Samick Musical Instruments | Kosdaq Composite vs. Songwon Industrial Co |
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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