Correlation Between STCube and Cuckoo Homesys
Can any of the company-specific risk be diversified away by investing in both STCube and Cuckoo Homesys 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 STCube and Cuckoo Homesys into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between STCube Inc and Cuckoo Homesys Co, you can compare the effects of market volatilities on STCube and Cuckoo Homesys 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 STCube with a short position of Cuckoo Homesys. Check out your portfolio center. Please also check ongoing floating volatility patterns of STCube and Cuckoo Homesys.
Diversification Opportunities for STCube and Cuckoo Homesys
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between STCube and Cuckoo is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding STCube Inc and Cuckoo Homesys Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cuckoo Homesys and STCube 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 STCube Inc are associated (or correlated) with Cuckoo Homesys. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cuckoo Homesys has no effect on the direction of STCube i.e., STCube and Cuckoo Homesys go up and down completely randomly.
Pair Corralation between STCube and Cuckoo Homesys
If you would invest 2,061,648 in Cuckoo Homesys Co on September 14, 2024 and sell it today you would lose (26,648) from holding Cuckoo Homesys Co or give up 1.29% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.42% |
| Values | Daily Returns |
STCube Inc vs. Cuckoo Homesys Co
Performance |
| Timeline |
| STCube Inc |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Cuckoo Homesys |
STCube and Cuckoo Homesys Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with STCube and Cuckoo Homesys
The main advantage of trading using opposite STCube and Cuckoo Homesys positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if STCube position performs unexpectedly, Cuckoo Homesys 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 Cuckoo Homesys will offset losses from the drop in Cuckoo Homesys' long position.| STCube vs. Sangsangin Investment Securities | STCube vs. Aprogen Healthcare Games | STCube vs. SS TECH | STCube vs. Lion Chemtech Co |
| Cuckoo Homesys vs. Solution Advanced Technology | Cuckoo Homesys vs. Busan Industrial Co | Cuckoo Homesys vs. Busan Ind | Cuckoo Homesys vs. Sam Chun Dang |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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