Correlation Between Samji Electronics and Kosdaq Composite
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By analyzing existing cross correlation between Samji Electronics Co and Kosdaq Composite Index, you can compare the effects of market volatilities on Samji Electronics and Kosdaq Composite 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 Samji Electronics with a short position of Kosdaq Composite. Check out your portfolio center. Please also check ongoing floating volatility patterns of Samji Electronics and Kosdaq Composite.
Diversification Opportunities for Samji Electronics and Kosdaq Composite
0.61 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Samji and Kosdaq is 0.61. Overlapping area represents the amount of risk that can be diversified away by holding Samji Electronics Co and Kosdaq Composite Index in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kosdaq Composite Index and Samji Electronics 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 Samji Electronics Co are associated (or correlated) with Kosdaq Composite. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kosdaq Composite Index has no effect on the direction of Samji Electronics i.e., Samji Electronics and Kosdaq Composite go up and down completely randomly.
Pair Corralation between Samji Electronics and Kosdaq Composite
Assuming the 90 days trading horizon Samji Electronics Co is expected to generate 0.72 times more return on investment than Kosdaq Composite. However, Samji Electronics Co is 1.4 times less risky than Kosdaq Composite. It trades about 0.4 of its potential returns per unit of risk. Kosdaq Composite Index is currently generating about 0.06 per unit of risk. If you would invest 871,000 in Samji Electronics Co on November 7, 2024 and sell it today you would earn a total of 58,000 from holding Samji Electronics Co or generate 6.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 94.74% |
| Values | Daily Returns |
Samji Electronics Co vs. Kosdaq Composite Index
Performance |
| Timeline |
Samji Electronics and Kosdaq Composite Volatility Contrast
Predicted Return Density |
| Returns |
Samji Electronics Co
Pair trading matchups for Samji Electronics
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
Pair Trading with Samji Electronics and Kosdaq Composite
The main advantage of trading using opposite Samji Electronics and Kosdaq Composite positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Samji Electronics position performs unexpectedly, Kosdaq Composite 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 Kosdaq Composite will offset losses from the drop in Kosdaq Composite's long position.| Samji Electronics vs. SFA Semicon Co | Samji Electronics vs. Seronics Co | Samji Electronics vs. COWELL FASHION CoLtd | Samji Electronics vs. Seohee Construction Co |
| Kosdaq Composite vs. Dongwoo Farm To | Kosdaq Composite vs. Kyeryong Construction Industrial | Kosdaq Composite vs. T3 Entertainment Co | Kosdaq Composite vs. FNC Entertainment 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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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