Correlation Between AnterogenCoLtd and Samsung Card
Can any of the company-specific risk be diversified away by investing in both AnterogenCoLtd and Samsung Card 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 AnterogenCoLtd and Samsung Card into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AnterogenCoLtd and Samsung Card Co, you can compare the effects of market volatilities on AnterogenCoLtd and Samsung Card 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 AnterogenCoLtd with a short position of Samsung Card. Check out your portfolio center. Please also check ongoing floating volatility patterns of AnterogenCoLtd and Samsung Card.
Diversification Opportunities for AnterogenCoLtd and Samsung Card
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between AnterogenCoLtd and Samsung is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding AnterogenCoLtd and Samsung Card Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Samsung Card and AnterogenCoLtd 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 AnterogenCoLtd are associated (or correlated) with Samsung Card. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Samsung Card has no effect on the direction of AnterogenCoLtd i.e., AnterogenCoLtd and Samsung Card go up and down completely randomly.
Pair Corralation between AnterogenCoLtd and Samsung Card
Assuming the 90 days trading horizon AnterogenCoLtd is expected to generate 1.37 times less return on investment than Samsung Card. In addition to that, AnterogenCoLtd is 1.07 times more volatile than Samsung Card Co. It trades about 0.03 of its total potential returns per unit of risk. Samsung Card Co is currently generating about 0.05 per unit of volatility. If you would invest 3,875,000 in Samsung Card Co on September 2, 2024 and sell it today you would earn a total of 395,000 from holding Samsung Card Co or generate 10.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
AnterogenCoLtd vs. Samsung Card Co
Performance |
| Timeline |
| AnterogenCoLtd |
| Samsung Card |
AnterogenCoLtd and Samsung Card Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AnterogenCoLtd and Samsung Card
The main advantage of trading using opposite AnterogenCoLtd and Samsung Card positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AnterogenCoLtd position performs unexpectedly, Samsung Card 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 Card will offset losses from the drop in Samsung Card's long position.| AnterogenCoLtd vs. JETEMA Co | AnterogenCoLtd vs. Aminologics CoLtd | AnterogenCoLtd vs. Daihan Pharmaceutical CoLtd |
| Samsung Card vs. Sangsin Energy Display | Samsung Card vs. Chin Yang Chemical | Samsung Card vs. SH Energy Chemical | Samsung Card vs. Hannong Chemicals |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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