Correlation Between SAMS INTERNAT and Roku
Can any of the company-specific risk be diversified away by investing in both SAMS INTERNAT and Roku 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 SAMS INTERNAT and Roku into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SAMS INTERNAT R and Roku Inc, you can compare the effects of market volatilities on SAMS INTERNAT and Roku 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 SAMS INTERNAT with a short position of Roku. Check out your portfolio center. Please also check ongoing floating volatility patterns of SAMS INTERNAT and Roku.
Diversification Opportunities for SAMS INTERNAT and Roku
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between SAMS and Roku is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SAMS INTERNAT R and Roku Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Roku Inc and SAMS INTERNAT 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 SAMS INTERNAT R are associated (or correlated) with Roku. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Roku Inc has no effect on the direction of SAMS INTERNAT i.e., SAMS INTERNAT and Roku go up and down completely randomly.
Pair Corralation between SAMS INTERNAT and Roku
If you would invest 5,111 in Roku Inc on November 2, 2024 and sell it today you would earn a total of 3,112 from holding Roku Inc or generate 60.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.2% |
| Values | Daily Returns |
SAMS INTERNAT R vs. Roku Inc
Performance |
| Timeline |
| SAMS INTERNAT R |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Solid
| Roku Inc |
SAMS INTERNAT and Roku Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SAMS INTERNAT and Roku
The main advantage of trading using opposite SAMS INTERNAT and Roku positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SAMS INTERNAT position performs unexpectedly, Roku 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 Roku will offset losses from the drop in Roku's long position.| SAMS INTERNAT vs. MAVEN WIRELESS SWEDEN | SAMS INTERNAT vs. Zoom Video Communications | SAMS INTERNAT vs. Gol Intelligent Airlines | SAMS INTERNAT vs. Chengdu PUTIAN Telecommunications |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
Other Complementary Tools
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios |