Correlation Between E Investment and Cosmax
Can any of the company-specific risk be diversified away by investing in both E Investment and Cosmax 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 E Investment and Cosmax into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between E Investment Development and Cosmax Inc, you can compare the effects of market volatilities on E Investment and Cosmax 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 E Investment with a short position of Cosmax. Check out your portfolio center. Please also check ongoing floating volatility patterns of E Investment and Cosmax.
Diversification Opportunities for E Investment and Cosmax
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between 093230 and Cosmax is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding E Investment Development and Cosmax Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cosmax Inc and E Investment 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 E Investment Development are associated (or correlated) with Cosmax. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cosmax Inc has no effect on the direction of E Investment i.e., E Investment and Cosmax go up and down completely randomly.
Pair Corralation between E Investment and Cosmax
If you would invest 139,200 in E Investment Development on September 2, 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 | 99.18% |
| Values | Daily Returns |
E Investment Development vs. Cosmax Inc
Performance |
| Timeline |
| E Investment Development |
| Cosmax Inc |
E Investment and Cosmax Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with E Investment and Cosmax
The main advantage of trading using opposite E Investment and Cosmax positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if E Investment position performs unexpectedly, Cosmax 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 Cosmax will offset losses from the drop in Cosmax's long position.| E Investment vs. Hana Financial | E Investment vs. InfoBank | E Investment vs. Dgb Financial | E Investment vs. Korean Reinsurance Co |
| Cosmax vs. E Investment Development | Cosmax vs. Cuckoo Electronics Co | Cosmax vs. Daeduck Electronics Co | Cosmax vs. Daol Investment Securities |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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