Correlation Between Koryo Credit and TJ Media
Can any of the company-specific risk be diversified away by investing in both Koryo Credit and TJ Media at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Koryo Credit and TJ Media into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Koryo Credit Information and TJ media Co, you can compare the effects of market volatilities on Koryo Credit and TJ Media 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 Koryo Credit with a short position of TJ Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of Koryo Credit and TJ Media.
Diversification Opportunities for Koryo Credit and TJ Media
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between Koryo and 032540 is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding Koryo Credit Information and TJ media Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on TJ media and Koryo Credit 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 Koryo Credit Information are associated (or correlated) with TJ Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of TJ media has no effect on the direction of Koryo Credit i.e., Koryo Credit and TJ Media go up and down completely randomly.
Pair Corralation between Koryo Credit and TJ Media
Assuming the 90 days trading horizon Koryo Credit Information is expected to generate 0.78 times more return on investment than TJ Media. However, Koryo Credit Information is 1.29 times less risky than TJ Media. It trades about 0.02 of its potential returns per unit of risk. TJ media Co is currently generating about -0.14 per unit of risk. If you would invest 1,022,000 in Koryo Credit Information on September 24, 2024 and sell it today you would earn a total of 11,000 from holding Koryo Credit Information or generate 1.08% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 98.41% |
Values | Daily Returns |
Koryo Credit Information vs. TJ media Co
Performance |
Timeline |
Koryo Credit Information |
TJ media |
Koryo Credit and TJ Media Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Koryo Credit and TJ Media
The main advantage of trading using opposite Koryo Credit and TJ Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Koryo Credit position performs unexpectedly, TJ Media 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 TJ Media will offset losses from the drop in TJ Media's long position.Koryo Credit vs. DSC Investment | Koryo Credit vs. Mobileleader CoLtd | Koryo Credit vs. Korea Information Communications | Koryo Credit vs. Automobile Pc |
TJ Media vs. Woori Technology Investment | TJ Media vs. Samsung Card Co | TJ Media vs. Korea Real Estate | TJ Media vs. CHOROKBAEM PANY 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 Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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