Correlation Between Samsung Publishing and Amogreentech
Can any of the company-specific risk be diversified away by investing in both Samsung Publishing and Amogreentech 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 Amogreentech 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 Amogreentech Co, you can compare the effects of market volatilities on Samsung Publishing and Amogreentech 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 Amogreentech. Check out your portfolio center. Please also check ongoing floating volatility patterns of Samsung Publishing and Amogreentech.
Diversification Opportunities for Samsung Publishing and Amogreentech
0.6 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Samsung and Amogreentech is 0.6. Overlapping area represents the amount of risk that can be diversified away by holding Samsung Publishing Co and Amogreentech Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amogreentech 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 Amogreentech. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amogreentech has no effect on the direction of Samsung Publishing i.e., Samsung Publishing and Amogreentech go up and down completely randomly.
Pair Corralation between Samsung Publishing and Amogreentech
Assuming the 90 days trading horizon Samsung Publishing is expected to generate 2.27 times less return on investment than Amogreentech. But when comparing it to its historical volatility, Samsung Publishing Co is 1.38 times less risky than Amogreentech. It trades about 0.04 of its potential returns per unit of risk. Amogreentech Co is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 624,000 in Amogreentech Co on August 25, 2024 and sell it today you would earn a total of 31,000 from holding Amogreentech Co or generate 4.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Samsung Publishing Co vs. Amogreentech Co
Performance |
| Timeline |
| Samsung Publishing |
| Amogreentech |
Samsung Publishing and Amogreentech Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Samsung Publishing and Amogreentech
The main advantage of trading using opposite Samsung Publishing and Amogreentech positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Samsung Publishing position performs unexpectedly, Amogreentech 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 Amogreentech will offset losses from the drop in Amogreentech's long position.| Samsung Publishing vs. AptaBio Therapeutics | Samsung Publishing vs. Daewoo SBI SPAC | Samsung Publishing vs. Dream Security co | Samsung Publishing vs. Microfriend |
| Amogreentech vs. Seoul Semiconductor Co | Amogreentech vs. PJ Metal Co | Amogreentech vs. Daedong Metals Co | Amogreentech vs. Samsung Publishing 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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
Other Complementary Tools
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Stocks Directory Find actively traded stocks across global markets | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites |