Correlation Between Amogreentech and Kosdaq Composite
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By analyzing existing cross correlation between Amogreentech Co and Kosdaq Composite Index, you can compare the effects of market volatilities on Amogreentech 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 Amogreentech with a short position of Kosdaq Composite. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amogreentech and Kosdaq Composite.
Diversification Opportunities for Amogreentech and Kosdaq Composite
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Amogreentech and Kosdaq is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding Amogreentech Co 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 Amogreentech 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 Amogreentech Co 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 Amogreentech i.e., Amogreentech and Kosdaq Composite go up and down completely randomly.
Pair Corralation between Amogreentech and Kosdaq Composite
Assuming the 90 days trading horizon Amogreentech Co is expected to under-perform the Kosdaq Composite. In addition to that, Amogreentech is 2.21 times more volatile than Kosdaq Composite Index. It trades about -0.03 of its total potential returns per unit of risk. Kosdaq Composite Index is currently generating about 0.0 per unit of volatility. If you would invest 73,235 in Kosdaq Composite Index on October 12, 2024 and sell it today you would lose (1,446) from holding Kosdaq Composite Index or give up 1.97% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Amogreentech Co vs. Kosdaq Composite Index
Performance |
| Timeline |
Amogreentech and Kosdaq Composite Volatility Contrast
Predicted Return Density |
| Returns |
Amogreentech Co
Pair trading matchups for Amogreentech
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
Pair Trading with Amogreentech and Kosdaq Composite
The main advantage of trading using opposite Amogreentech and Kosdaq Composite positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amogreentech 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.| Amogreentech vs. Ecopro BM Co | Amogreentech vs. Sangsin Energy Display | Amogreentech vs. Bosung Power Technology | Amogreentech vs. Busan Industrial Co |
| Kosdaq Composite vs. Kukdong Oil Chemicals | Kosdaq Composite vs. Amogreentech Co | Kosdaq Composite vs. V One Tech Co | Kosdaq Composite vs. Youngbo Chemical 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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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