Correlation Between Dongkuk Structures and Kosdaq Composite
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By analyzing existing cross correlation between Dongkuk Structures Construction and Kosdaq Composite Index, you can compare the effects of market volatilities on Dongkuk Structures and Kosdaq Composite 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 Dongkuk Structures with a short position of Kosdaq Composite. Check out your portfolio center. Please also check ongoing floating volatility patterns of Dongkuk Structures and Kosdaq Composite.
Diversification Opportunities for Dongkuk Structures and Kosdaq Composite
0.64 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Dongkuk and Kosdaq is 0.64. Overlapping area represents the amount of risk that can be diversified away by holding Dongkuk Structures Constructio and Kosdaq Composite Index in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kosdaq Composite Index and Dongkuk Structures 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 Dongkuk Structures Construction are associated (or correlated) with Kosdaq Composite. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kosdaq Composite Index has no effect on the direction of Dongkuk Structures i.e., Dongkuk Structures and Kosdaq Composite go up and down completely randomly.
Pair Corralation between Dongkuk Structures and Kosdaq Composite
Assuming the 90 days trading horizon Dongkuk Structures Construction is expected to under-perform the Kosdaq Composite. In addition to that, Dongkuk Structures is 1.86 times more volatile than Kosdaq Composite Index. It trades about -0.02 of its total potential returns per unit of risk. Kosdaq Composite Index is currently generating about -0.03 per unit of volatility. If you would invest 80,799 in Kosdaq Composite Index on October 26, 2024 and sell it today you would lose (7,945) from holding Kosdaq Composite Index or give up 9.83% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 99.17% |
| Values | Daily Returns |
Dongkuk Structures Constructio vs. Kosdaq Composite Index
Performance |
| Timeline |
Dongkuk Structures and Kosdaq Composite Volatility Contrast
Predicted Return Density |
| Returns |
Dongkuk Structures Construction
Pair trading matchups for Dongkuk Structures
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
Pair Trading with Dongkuk Structures and Kosdaq Composite
The main advantage of trading using opposite Dongkuk Structures and Kosdaq Composite positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Dongkuk Structures position performs unexpectedly, Kosdaq Composite 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 Kosdaq Composite will offset losses from the drop in Kosdaq Composite's long position.| Dongkuk Structures vs. Bookook Steel | Dongkuk Structures vs. A Tech Solution Co | Dongkuk Structures vs. Finebesteel | Dongkuk Structures vs. Hyundai BNG Steel |
| Kosdaq Composite vs. Dongkuk Structures Construction | Kosdaq Composite vs. Asiana Airlines | Kosdaq Composite vs. Hyundai Home Shopping | Kosdaq Composite vs. SK Chemicals 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 Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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