Correlation Between Cube Entertainment and Kosdaq Composite
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By analyzing existing cross correlation between Cube Entertainment and Kosdaq Composite Index, you can compare the effects of market volatilities on Cube Entertainment 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 Cube Entertainment with a short position of Kosdaq Composite. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cube Entertainment and Kosdaq Composite.
Diversification Opportunities for Cube Entertainment and Kosdaq Composite
-0.64 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Cube and Kosdaq is -0.64. Overlapping area represents the amount of risk that can be diversified away by holding Cube Entertainment 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 Cube Entertainment 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 Cube Entertainment 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 Cube Entertainment i.e., Cube Entertainment and Kosdaq Composite go up and down completely randomly.
Pair Corralation between Cube Entertainment and Kosdaq Composite
Assuming the 90 days trading horizon Cube Entertainment is expected to under-perform the Kosdaq Composite. In addition to that, Cube Entertainment is 1.39 times more volatile than Kosdaq Composite Index. It trades about -0.53 of its total potential returns per unit of risk. Kosdaq Composite Index is currently generating about 0.14 per unit of volatility. If you would invest 69,373 in Kosdaq Composite Index on October 14, 2024 and sell it today you would earn a total of 2,416 from holding Kosdaq Composite Index or generate 3.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cube Entertainment vs. Kosdaq Composite Index
Performance |
| Timeline |
Cube Entertainment and Kosdaq Composite Volatility Contrast
Predicted Return Density |
| Returns |
Cube Entertainment
Pair trading matchups for Cube Entertainment
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
Pair Trading with Cube Entertainment and Kosdaq Composite
The main advantage of trading using opposite Cube Entertainment and Kosdaq Composite positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cube Entertainment 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.| Cube Entertainment vs. Samsung Electronics Co | Cube Entertainment vs. Samsung Electronics Co | Cube Entertainment vs. LG Energy Solution | Cube Entertainment vs. SK Hynix |
| Kosdaq Composite vs. Shinsegae Food | Kosdaq Composite vs. Digital Multimedia Technology | Kosdaq Composite vs. Cube Entertainment | Kosdaq Composite vs. Tway Air 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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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