Correlation Between Kosdaq Composite and Samhyun
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By analyzing existing cross correlation between Kosdaq Composite Index and Samhyun, you can compare the effects of market volatilities on Kosdaq Composite and Samhyun 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 Kosdaq Composite with a short position of Samhyun. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kosdaq Composite and Samhyun.
Diversification Opportunities for Kosdaq Composite and Samhyun
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Kosdaq and Samhyun is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Kosdaq Composite Index and Samhyun in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Samhyun and Kosdaq Composite 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 Kosdaq Composite Index are associated (or correlated) with Samhyun. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Samhyun has no effect on the direction of Kosdaq Composite i.e., Kosdaq Composite and Samhyun go up and down completely randomly.
Pair Corralation between Kosdaq Composite and Samhyun
Assuming the 90 days trading horizon Kosdaq Composite Index is expected to under-perform the Samhyun. But the index apears to be less risky and, when comparing its historical volatility, Kosdaq Composite Index is 4.11 times less risky than Samhyun. The index trades about -0.12 of its potential returns per unit of risk. The Samhyun is currently generating about -0.02 of returns per unit of risk over similar time horizon. If you would invest 784,999 in Samhyun on September 26, 2024 and sell it today you would lose (162,999) from holding Samhyun or give up 20.76% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 98.39% |
Values | Daily Returns |
Kosdaq Composite Index vs. Samhyun
Performance |
Timeline |
Kosdaq Composite and Samhyun Volatility Contrast
Predicted Return Density |
Returns |
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
Samhyun
Pair trading matchups for Samhyun
Pair Trading with Kosdaq Composite and Samhyun
The main advantage of trading using opposite Kosdaq Composite and Samhyun positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kosdaq Composite position performs unexpectedly, Samhyun 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 Samhyun will offset losses from the drop in Samhyun's long position.Kosdaq Composite vs. Alton Sports CoLtd | Kosdaq Composite vs. TS Investment Corp | Kosdaq Composite vs. JYP Entertainment Corp | Kosdaq Composite vs. Barunson Entertainment Arts |
Samhyun vs. Samsung Electronics Co | Samhyun vs. Samsung Electronics Co | Samhyun vs. LG Energy Solution | Samhyun vs. SK Hynix |
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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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