Correlation Between Samsung Heavy and Kosdaq Composite
Can any of the company-specific risk be diversified away by investing in both Samsung Heavy and Kosdaq Composite 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 Samsung Heavy and Kosdaq Composite into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Samsung Heavy Industries and Kosdaq Composite Index, you can compare the effects of market volatilities on Samsung Heavy 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 Samsung Heavy with a short position of Kosdaq Composite. Check out your portfolio center. Please also check ongoing floating volatility patterns of Samsung Heavy and Kosdaq Composite.
Diversification Opportunities for Samsung Heavy and Kosdaq Composite
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Samsung and Kosdaq is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Samsung Heavy Industries 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 Samsung Heavy 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 Samsung Heavy Industries 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 Samsung Heavy i.e., Samsung Heavy and Kosdaq Composite go up and down completely randomly.
Pair Corralation between Samsung Heavy and Kosdaq Composite
If you would invest (100.00) in Samsung Heavy Industries on August 31, 2024 and sell it today you would earn a total of 100.00 from holding Samsung Heavy Industries or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Samsung Heavy Industries vs. Kosdaq Composite Index
Performance |
| Timeline |
Samsung Heavy and Kosdaq Composite Volatility Contrast
Predicted Return Density |
| Returns |
Samsung Heavy Industries
Pair trading matchups for Samsung Heavy
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
Pair Trading with Samsung Heavy and Kosdaq Composite
The main advantage of trading using opposite Samsung Heavy and Kosdaq Composite positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Samsung Heavy 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.| Samsung Heavy vs. Duksan Hi Metal | Samsung Heavy vs. DONGKUK TED METAL | Samsung Heavy vs. Youngsin Metal Industrial | Samsung Heavy vs. Automobile Pc |
| Kosdaq Composite vs. Konan Technology | Kosdaq Composite vs. Korea Petro Chemical | Kosdaq Composite vs. RFTech Co | Kosdaq Composite vs. Yura Tech 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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Other Complementary Tools
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital |