Correlation Between Nh Investment and Genic
Can any of the company-specific risk be diversified away by investing in both Nh Investment and Genic 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 Nh Investment and Genic into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Nh Investment And and Genic Co, you can compare the effects of market volatilities on Nh Investment and Genic 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 Nh Investment with a short position of Genic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Nh Investment and Genic.
Diversification Opportunities for Nh Investment and Genic
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between 005945 and Genic is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Nh Investment And and Genic Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Genic and Nh Investment 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 Nh Investment And are associated (or correlated) with Genic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Genic has no effect on the direction of Nh Investment i.e., Nh Investment and Genic go up and down completely randomly.
Pair Corralation between Nh Investment and Genic
Assuming the 90 days trading horizon Nh Investment is expected to generate 5.37 times less return on investment than Genic. But when comparing it to its historical volatility, Nh Investment And is 5.45 times less risky than Genic. It trades about 0.1 of its potential returns per unit of risk. Genic Co is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 509,000 in Genic Co on October 13, 2024 and sell it today you would earn a total of 2,206,000 from holding Genic Co or generate 433.4% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.79% |
| Values | Daily Returns |
Nh Investment And vs. Genic Co
Performance |
| Timeline |
| Nh Investment And |
| Genic |
Nh Investment and Genic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Nh Investment and Genic
The main advantage of trading using opposite Nh Investment and Genic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Nh Investment position performs unexpectedly, Genic 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 Genic will offset losses from the drop in Genic's long position.| Nh Investment vs. Nice Information Telecommunication | Nh Investment vs. Neungyule Education | Nh Investment vs. iNtRON Biotechnology | Nh Investment vs. NewFlex Technology Co |
| Genic vs. Nh Investment And | Genic vs. DB Financial Investment | Genic vs. Korean Drug Co | Genic vs. NH Investment Securities |
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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