Correlation Between Cytogen and Sam Yang
Can any of the company-specific risk be diversified away by investing in both Cytogen and Sam Yang 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 Cytogen and Sam Yang into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cytogen and Sam Yang Foods, you can compare the effects of market volatilities on Cytogen and Sam Yang 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 Cytogen with a short position of Sam Yang. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cytogen and Sam Yang.
Diversification Opportunities for Cytogen and Sam Yang
Pay attention - limited upside
The 3 months correlation between Cytogen and Sam is -0.81. Overlapping area represents the amount of risk that can be diversified away by holding Cytogen and Sam Yang Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sam Yang Foods and Cytogen 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 Cytogen are associated (or correlated) with Sam Yang. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sam Yang Foods has no effect on the direction of Cytogen i.e., Cytogen and Sam Yang go up and down completely randomly.
Pair Corralation between Cytogen and Sam Yang
Assuming the 90 days trading horizon Cytogen is expected to generate 1.23 times more return on investment than Sam Yang. However, Cytogen is 1.23 times more volatile than Sam Yang Foods. It trades about -0.16 of its potential returns per unit of risk. Sam Yang Foods is currently generating about -0.21 per unit of risk. If you would invest 488,500 in Cytogen on November 4, 2024 and sell it today you would lose (34,000) from holding Cytogen or give up 6.96% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 94.44% |
| Values | Daily Returns |
Cytogen vs. Sam Yang Foods
Performance |
| Timeline |
| Cytogen |
| Sam Yang Foods |
Cytogen and Sam Yang Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cytogen and Sam Yang
The main advantage of trading using opposite Cytogen and Sam Yang positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cytogen position performs unexpectedly, Sam Yang 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 Sam Yang will offset losses from the drop in Sam Yang's long position.| Cytogen vs. E Investment Development | Cytogen vs. Youngsin Metal Industrial | Cytogen vs. Golden Bridge Investment | Cytogen vs. Atinum Investment Co |
| Sam Yang vs. Nice Information Telecommunication | Sam Yang vs. Kukil Metal Co | Sam Yang vs. Hanjin Transportation Co | Sam Yang vs. Sangsin Energy Display |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
Other Complementary Tools
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal |