Correlation Between Samil CoLtd and Inzi Display
Can any of the company-specific risk be diversified away by investing in both Samil CoLtd 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 Samil CoLtd and Inzi Display into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Samil CoLtd and Inzi Display CoLtd, you can compare the effects of market volatilities on Samil CoLtd 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 Samil CoLtd with a short position of Inzi Display. Check out your portfolio center. Please also check ongoing floating volatility patterns of Samil CoLtd and Inzi Display.
Diversification Opportunities for Samil CoLtd and Inzi Display
0.37 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Samil and Inzi is 0.37. Overlapping area represents the amount of risk that can be diversified away by holding Samil CoLtd 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 Samil CoLtd 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 Samil CoLtd 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 Samil CoLtd i.e., Samil CoLtd and Inzi Display go up and down completely randomly.
Pair Corralation between Samil CoLtd and Inzi Display
Assuming the 90 days trading horizon Samil CoLtd is expected to generate 1.04 times more return on investment than Inzi Display. However, Samil CoLtd is 1.04 times more volatile than Inzi Display CoLtd. It trades about 0.41 of its potential returns per unit of risk. Inzi Display CoLtd is currently generating about -0.37 per unit of risk. If you would invest 149,500 in Samil CoLtd on August 30, 2024 and sell it today you would earn a total of 19,800 from holding Samil CoLtd or generate 13.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Samil CoLtd vs. Inzi Display CoLtd
Performance |
| Timeline |
| Samil CoLtd |
| Inzi Display CoLtd |
Samil CoLtd and Inzi Display Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Samil CoLtd and Inzi Display
The main advantage of trading using opposite Samil CoLtd and Inzi Display positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Samil CoLtd 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.| Samil CoLtd vs. PH Tech Co | Samil CoLtd vs. Chorokbaem Healthcare Co | Samil CoLtd vs. Yura Tech Co | Samil CoLtd vs. Hankook Furniture Co |
| Inzi Display vs. Daou Data Corp | Inzi Display vs. Busan Industrial Co | Inzi Display vs. Busan Ind | Inzi Display vs. Shinhan WTI Futures |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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