Correlation Between Kisan Telecom and Samsung Life
Can any of the company-specific risk be diversified away by investing in both Kisan Telecom and Samsung Life 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 Kisan Telecom and Samsung Life into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kisan Telecom Co and Samsung Life Insurance, you can compare the effects of market volatilities on Kisan Telecom and Samsung Life 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 Kisan Telecom with a short position of Samsung Life. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kisan Telecom and Samsung Life.
Diversification Opportunities for Kisan Telecom and Samsung Life
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Kisan and Samsung is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Kisan Telecom Co and Samsung Life Insurance in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Samsung Life Insurance and Kisan Telecom 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 Kisan Telecom Co are associated (or correlated) with Samsung Life. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Samsung Life Insurance has no effect on the direction of Kisan Telecom i.e., Kisan Telecom and Samsung Life go up and down completely randomly.
Pair Corralation between Kisan Telecom and Samsung Life
Assuming the 90 days trading horizon Kisan Telecom Co is expected to under-perform the Samsung Life. In addition to that, Kisan Telecom is 1.24 times more volatile than Samsung Life Insurance. It trades about -0.04 of its total potential returns per unit of risk. Samsung Life Insurance is currently generating about 0.05 per unit of volatility. If you would invest 6,691,152 in Samsung Life Insurance on August 29, 2024 and sell it today you would earn a total of 3,768,848 from holding Samsung Life Insurance or generate 56.33% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kisan Telecom Co vs. Samsung Life Insurance
Performance |
| Timeline |
| Kisan Telecom |
| Samsung Life Insurance |
Kisan Telecom and Samsung Life Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kisan Telecom and Samsung Life
The main advantage of trading using opposite Kisan Telecom and Samsung Life positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kisan Telecom position performs unexpectedly, Samsung Life 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 Samsung Life will offset losses from the drop in Samsung Life's long position.| Kisan Telecom vs. Jeju Beer Co | Kisan Telecom vs. PJ Metal Co | Kisan Telecom vs. MediaZen | Kisan Telecom vs. T3 Entertainment Co |
| Samsung Life vs. AptaBio Therapeutics | Samsung Life vs. Daewoo SBI SPAC | Samsung Life vs. Dream Security co | Samsung Life vs. Microfriend |
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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