Correlation Between Samsung Publishing and E Investment
Can any of the company-specific risk be diversified away by investing in both Samsung Publishing and E Investment 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 Samsung Publishing and E Investment into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Samsung Publishing Co and E Investment Development, you can compare the effects of market volatilities on Samsung Publishing and E Investment 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 Samsung Publishing with a short position of E Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Samsung Publishing and E Investment.
Diversification Opportunities for Samsung Publishing and E Investment
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Samsung and 093230 is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Samsung Publishing Co and E Investment Development in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on E Investment Development and Samsung Publishing 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 Samsung Publishing Co are associated (or correlated) with E Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of E Investment Development has no effect on the direction of Samsung Publishing i.e., Samsung Publishing and E Investment go up and down completely randomly.
Pair Corralation between Samsung Publishing and E Investment
If you would invest 139,200 in E Investment Development on October 12, 2024 and sell it today you would earn a total of 0.00 from holding E Investment Development or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Samsung Publishing Co vs. E Investment Development
Performance |
| Timeline |
| Samsung Publishing |
| E Investment Development |
Samsung Publishing and E Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Samsung Publishing and E Investment
The main advantage of trading using opposite Samsung Publishing and E Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Samsung Publishing position performs unexpectedly, E Investment 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 E Investment will offset losses from the drop in E Investment's long position.| Samsung Publishing vs. Sangsangin Investment Securities | Samsung Publishing vs. Daiyang Metal Co | Samsung Publishing vs. Korea Investment Holdings | Samsung Publishing vs. DONGKUK TED METAL |
| E Investment vs. Samsung Publishing Co | E Investment vs. GS Retail Co | E Investment vs. System and Application | E Investment vs. ITM Semiconductor 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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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