Correlation Between DoubleU Games and SV Investment
Can any of the company-specific risk be diversified away by investing in both DoubleU Games and SV Investment 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 DoubleU Games and SV Investment into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between DoubleU Games Co and SV Investment, you can compare the effects of market volatilities on DoubleU Games and SV Investment 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 DoubleU Games with a short position of SV Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of DoubleU Games and SV Investment.
Diversification Opportunities for DoubleU Games and SV Investment
-0.19 | Correlation Coefficient |
Good diversification
The 3 months correlation between DoubleU and 289080 is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding DoubleU Games Co and SV Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SV Investment and DoubleU Games 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 DoubleU Games Co are associated (or correlated) with SV Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SV Investment has no effect on the direction of DoubleU Games i.e., DoubleU Games and SV Investment go up and down completely randomly.
Pair Corralation between DoubleU Games and SV Investment
Assuming the 90 days trading horizon DoubleU Games Co is expected to generate 0.69 times more return on investment than SV Investment. However, DoubleU Games Co is 1.45 times less risky than SV Investment. It trades about 0.04 of its potential returns per unit of risk. SV Investment is currently generating about -0.11 per unit of risk. If you would invest 4,930,000 in DoubleU Games Co on October 24, 2024 and sell it today you would earn a total of 240,000 from holding DoubleU Games Co or generate 4.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
DoubleU Games Co vs. SV Investment
Performance |
| Timeline |
| DoubleU Games |
| SV Investment |
DoubleU Games and SV Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with DoubleU Games and SV Investment
The main advantage of trading using opposite DoubleU Games and SV Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DoubleU Games position performs unexpectedly, SV Investment 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 SV Investment will offset losses from the drop in SV Investment's long position.| DoubleU Games vs. AeroSpace Technology of | DoubleU Games vs. Bosung Power Technology | DoubleU Games vs. Lotte Non Life Insurance | DoubleU Games vs. Digital Imaging Technology |
| SV Investment vs. Aprogen Healthcare Games | SV Investment vs. KEPCO Engineering Construction | SV Investment vs. KCC Engineering Construction | SV Investment vs. DoubleU Games 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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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