Correlation Between TS Investment and Daeduck Electronics
Can any of the company-specific risk be diversified away by investing in both TS Investment and Daeduck Electronics 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 TS Investment and Daeduck Electronics into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between TS Investment Corp and Daeduck Electronics Co, you can compare the effects of market volatilities on TS Investment and Daeduck Electronics 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 TS Investment with a short position of Daeduck Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of TS Investment and Daeduck Electronics.
Diversification Opportunities for TS Investment and Daeduck Electronics
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between 246690 and Daeduck is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding TS Investment Corp and Daeduck Electronics Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Daeduck Electronics and TS Investment 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 TS Investment Corp are associated (or correlated) with Daeduck Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Daeduck Electronics has no effect on the direction of TS Investment i.e., TS Investment and Daeduck Electronics go up and down completely randomly.
Pair Corralation between TS Investment and Daeduck Electronics
Assuming the 90 days trading horizon TS Investment is expected to generate 6.53 times less return on investment than Daeduck Electronics. In addition to that, TS Investment is 4.34 times more volatile than Daeduck Electronics Co. It trades about 0.01 of its total potential returns per unit of risk. Daeduck Electronics Co is currently generating about 0.17 per unit of volatility. If you would invest 617,000 in Daeduck Electronics Co on October 26, 2024 and sell it today you would earn a total of 61,000 from holding Daeduck Electronics Co or generate 9.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
TS Investment Corp vs. Daeduck Electronics Co
Performance |
| Timeline |
| TS Investment Corp |
| Daeduck Electronics |
TS Investment and Daeduck Electronics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TS Investment and Daeduck Electronics
The main advantage of trading using opposite TS Investment and Daeduck Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TS Investment position performs unexpectedly, Daeduck Electronics 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 Daeduck Electronics will offset losses from the drop in Daeduck Electronics' long position.| TS Investment vs. SBI Investment KOREA | TS Investment vs. PI Advanced Materials | TS Investment vs. Korea Shipbuilding Offshore | TS Investment vs. Nh Investment And |
| Daeduck Electronics vs. KB Financial Group | Daeduck Electronics vs. Shinhan Financial Group | Daeduck Electronics vs. Hana Financial | Daeduck Electronics vs. Woori Financial Group |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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