Correlation Between Ssangyong Information and Inzi Display
Can any of the company-specific risk be diversified away by investing in both Ssangyong Information and Inzi Display 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 Ssangyong Information and Inzi Display into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ssangyong Information Communication and Inzi Display CoLtd, you can compare the effects of market volatilities on Ssangyong Information and Inzi Display 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 Ssangyong Information with a short position of Inzi Display. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ssangyong Information and Inzi Display.
Diversification Opportunities for Ssangyong Information and Inzi Display
-0.53 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Ssangyong and Inzi is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding Ssangyong Information Communic and Inzi Display CoLtd in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Inzi Display CoLtd and Ssangyong Information 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 Ssangyong Information Communication are associated (or correlated) with Inzi Display. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Inzi Display CoLtd has no effect on the direction of Ssangyong Information i.e., Ssangyong Information and Inzi Display go up and down completely randomly.
Pair Corralation between Ssangyong Information and Inzi Display
Assuming the 90 days trading horizon Ssangyong Information Communication is expected to generate 0.92 times more return on investment than Inzi Display. However, Ssangyong Information Communication is 1.09 times less risky than Inzi Display. It trades about -0.13 of its potential returns per unit of risk. Inzi Display CoLtd is currently generating about -0.28 per unit of risk. If you would invest 64,500 in Ssangyong Information Communication on November 5, 2024 and sell it today you would lose (1,300) from holding Ssangyong Information Communication or give up 2.02% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ssangyong Information Communic vs. Inzi Display CoLtd
Performance |
| Timeline |
| Ssangyong Information |
| Inzi Display CoLtd |
Ssangyong Information and Inzi Display Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ssangyong Information and Inzi Display
The main advantage of trading using opposite Ssangyong Information and Inzi Display positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ssangyong Information position performs unexpectedly, Inzi Display 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 Inzi Display will offset losses from the drop in Inzi Display's long position.| Ssangyong Information vs. Korea Air Svc | Ssangyong Information vs. NH Investment Securities | Ssangyong Information vs. SV Investment | Ssangyong Information vs. ABCO Electronics Co |
| Inzi Display vs. SBI Investment KOREA | Inzi Display vs. Daelim Trading Co | Inzi Display vs. Fine Besteel Co | Inzi Display vs. Husteel |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules |