Correlation Between Koh Young and I Scream
Can any of the company-specific risk be diversified away by investing in both Koh Young and I Scream 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 Koh Young and I Scream into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Koh Young Technology and I Scream Edu CoLtd, you can compare the effects of market volatilities on Koh Young and I Scream 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 Koh Young with a short position of I Scream. Check out your portfolio center. Please also check ongoing floating volatility patterns of Koh Young and I Scream.
Diversification Opportunities for Koh Young and I Scream
Very good diversification
The 3 months correlation between Koh and 289010 is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding Koh Young Technology and I Scream Edu CoLtd in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on I Scream Edu and Koh Young 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 Koh Young Technology are associated (or correlated) with I Scream. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of I Scream Edu has no effect on the direction of Koh Young i.e., Koh Young and I Scream go up and down completely randomly.
Pair Corralation between Koh Young and I Scream
Assuming the 90 days trading horizon Koh Young Technology is expected to generate 6.2 times more return on investment than I Scream. However, Koh Young is 6.2 times more volatile than I Scream Edu CoLtd. It trades about 0.38 of its potential returns per unit of risk. I Scream Edu CoLtd is currently generating about -0.25 per unit of risk. If you would invest 852,000 in Koh Young Technology on October 24, 2024 and sell it today you would earn a total of 606,000 from holding Koh Young Technology or generate 71.13% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Koh Young Technology vs. I Scream Edu CoLtd
Performance |
| Timeline |
| Koh Young Technology |
| I Scream Edu |
Koh Young and I Scream Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Koh Young and I Scream
The main advantage of trading using opposite Koh Young and I Scream positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Koh Young position performs unexpectedly, I Scream 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 I Scream will offset losses from the drop in I Scream's long position.| Koh Young vs. Daishin Balance No8 | Koh Young vs. NAU IB Capital | Koh Young vs. Daishin Balance No | Koh Young vs. Daesung Private Equity |
| I Scream vs. Koh Young Technology | I Scream vs. Spolytech Co | I Scream vs. A Tech Solution Co | I Scream vs. Narae Nanotech Corp |
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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