Correlation Between Jb Financial and Kosdaq Composite
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By analyzing existing cross correlation between Jb Financial and Kosdaq Composite Index, you can compare the effects of market volatilities on Jb Financial 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 Jb Financial with a short position of Kosdaq Composite. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jb Financial and Kosdaq Composite.
Diversification Opportunities for Jb Financial and Kosdaq Composite
-0.24 | Correlation Coefficient |
Very good diversification
The 3 months correlation between 175330 and Kosdaq is -0.24. Overlapping area represents the amount of risk that can be diversified away by holding Jb Financial 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 Jb Financial 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 Jb Financial 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 Jb Financial i.e., Jb Financial and Kosdaq Composite go up and down completely randomly.
Pair Corralation between Jb Financial and Kosdaq Composite
Assuming the 90 days trading horizon Jb Financial is expected to under-perform the Kosdaq Composite. In addition to that, Jb Financial is 1.07 times more volatile than Kosdaq Composite Index. It trades about -0.32 of its total potential returns per unit of risk. Kosdaq Composite Index is currently generating about 0.31 per unit of volatility. If you would invest 66,159 in Kosdaq Composite Index on October 11, 2024 and sell it today you would earn a total of 5,804 from holding Kosdaq Composite Index or generate 8.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jb Financial vs. Kosdaq Composite Index
Performance |
| Timeline |
Jb Financial and Kosdaq Composite Volatility Contrast
Predicted Return Density |
| Returns |
Jb Financial
Pair trading matchups for Jb Financial
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
Pair Trading with Jb Financial and Kosdaq Composite
The main advantage of trading using opposite Jb Financial and Kosdaq Composite positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jb Financial 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.| Jb Financial vs. Vissem Electronics Co | Jb Financial vs. Sungmoon Electronics Co | Jb Financial vs. Samsung Electronics Co | Jb Financial vs. Korea Electronic Certification |
| Kosdaq Composite vs. Nam Hwa Construction | Kosdaq Composite vs. Seohee Construction Co | Kosdaq Composite vs. Alton Sports CoLtd | Kosdaq Composite vs. Tamul Multimedia 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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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