Correlation Between Mgame Corp and Kosdaq Composite
Specify exactly 2 symbols:
By analyzing existing cross correlation between Mgame Corp and Kosdaq Composite Index, you can compare the effects of market volatilities on Mgame Corp 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 Mgame Corp with a short position of Kosdaq Composite. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mgame Corp and Kosdaq Composite.
Diversification Opportunities for Mgame Corp and Kosdaq Composite
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Mgame and Kosdaq is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding Mgame Corp 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 Mgame Corp 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 Mgame Corp 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 Mgame Corp i.e., Mgame Corp and Kosdaq Composite go up and down completely randomly.
Pair Corralation between Mgame Corp and Kosdaq Composite
Assuming the 90 days trading horizon Mgame Corp is expected to under-perform the Kosdaq Composite. In addition to that, Mgame Corp is 2.5 times more volatile than Kosdaq Composite Index. It trades about -0.11 of its total potential returns per unit of risk. Kosdaq Composite Index is currently generating about 0.03 per unit of volatility. If you would invest 68,955 in Kosdaq Composite Index on September 19, 2024 and sell it today you would earn a total of 492.00 from holding Kosdaq Composite Index or generate 0.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Mgame Corp vs. Kosdaq Composite Index
Performance |
| Timeline |
Mgame Corp and Kosdaq Composite Volatility Contrast
Predicted Return Density |
| Returns |
Mgame Corp
Pair trading matchups for Mgame Corp
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
Pair Trading with Mgame Corp and Kosdaq Composite
The main advantage of trading using opposite Mgame Corp and Kosdaq Composite positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mgame Corp 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.| Mgame Corp vs. Samsung Electronics Co | Mgame Corp vs. Samsung Electronics Co | Mgame Corp vs. SK Hynix | Mgame Corp vs. POSCO Holdings |
| Kosdaq Composite vs. Keyang Electric Machinery | Kosdaq Composite vs. Mgame Corp | Kosdaq Composite vs. Dongkuk Structures Construction | Kosdaq Composite vs. Daehan Synthetic Fiber |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Commodity Directory Find actively traded commodities issued by global exchanges |