Correlation Between Samsung Life and INTEKPLUS
Can any of the company-specific risk be diversified away by investing in both Samsung Life and INTEKPLUS 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 Life and INTEKPLUS into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Samsung Life Insurance and INTEKPLUS Co, you can compare the effects of market volatilities on Samsung Life and INTEKPLUS 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 Life with a short position of INTEKPLUS. Check out your portfolio center. Please also check ongoing floating volatility patterns of Samsung Life and INTEKPLUS.
Diversification Opportunities for Samsung Life and INTEKPLUS
-0.66 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Samsung and INTEKPLUS is -0.66. Overlapping area represents the amount of risk that can be diversified away by holding Samsung Life Insurance and INTEKPLUS Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INTEKPLUS and Samsung Life 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 Life Insurance are associated (or correlated) with INTEKPLUS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INTEKPLUS has no effect on the direction of Samsung Life i.e., Samsung Life and INTEKPLUS go up and down completely randomly.
Pair Corralation between Samsung Life and INTEKPLUS
Assuming the 90 days trading horizon Samsung Life Insurance is expected to generate 0.79 times more return on investment than INTEKPLUS. However, Samsung Life Insurance is 1.26 times less risky than INTEKPLUS. It trades about 0.08 of its potential returns per unit of risk. INTEKPLUS Co is currently generating about -0.25 per unit of risk. If you would invest 9,720,000 in Samsung Life Insurance on September 2, 2024 and sell it today you would earn a total of 990,000 from holding Samsung Life Insurance or generate 10.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Samsung Life Insurance vs. INTEKPLUS Co
Performance |
| Timeline |
| Samsung Life Insurance |
| INTEKPLUS |
Samsung Life and INTEKPLUS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Samsung Life and INTEKPLUS
The main advantage of trading using opposite Samsung Life and INTEKPLUS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Samsung Life position performs unexpectedly, INTEKPLUS 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 INTEKPLUS will offset losses from the drop in INTEKPLUS's long position.| Samsung Life vs. AptaBio Therapeutics | Samsung Life vs. Daewoo SBI SPAC | Samsung Life vs. Dream Security co | Samsung Life vs. Microfriend |
| INTEKPLUS vs. Dongsin Engineering Construction | INTEKPLUS vs. Doosan Fuel Cell | INTEKPLUS vs. Daishin Balance 1 | INTEKPLUS vs. Total Soft Bank |
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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