Correlation Between Ilji Technology and E Investment
Can any of the company-specific risk be diversified away by investing in both Ilji Technology and E Investment 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 Ilji Technology and E Investment into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ilji Technology Co and E Investment Development, you can compare the effects of market volatilities on Ilji Technology and E Investment 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 Ilji Technology with a short position of E Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ilji Technology and E Investment.
Diversification Opportunities for Ilji Technology and E Investment
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Ilji and 093230 is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Ilji Technology Co and E Investment Development in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on E Investment Development and Ilji Technology 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 Ilji Technology Co are associated (or correlated) with E Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of E Investment Development has no effect on the direction of Ilji Technology i.e., Ilji Technology and E Investment go up and down completely randomly.
Pair Corralation between Ilji Technology and E Investment
If you would invest 393,364 in Ilji Technology Co on October 16, 2024 and sell it today you would lose (7,364) from holding Ilji Technology Co or give up 1.87% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.67% |
| Values | Daily Returns |
Ilji Technology Co vs. E Investment Development
Performance |
| Timeline |
| Ilji Technology |
| E Investment Development |
Ilji Technology and E Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ilji Technology and E Investment
The main advantage of trading using opposite Ilji Technology and E Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ilji Technology position performs unexpectedly, E Investment 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 E Investment will offset losses from the drop in E Investment's long position.| Ilji Technology vs. Nable Communications | Ilji Technology vs. Korea Information Communications | Ilji Technology vs. Kukdong Oil Chemicals | Ilji Technology vs. Kg Chemical |
| E Investment vs. Tae Kyung Chemical | E Investment vs. Youngbo Chemical Co | E Investment vs. Netmarble Games Corp | E Investment vs. DoubleU Games 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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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