Correlation Between TS Investment and Kosdaq Composite
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By analyzing existing cross correlation between TS Investment Corp and Kosdaq Composite Index, you can compare the effects of market volatilities on TS Investment 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 TS Investment with a short position of Kosdaq Composite. Check out your portfolio center. Please also check ongoing floating volatility patterns of TS Investment and Kosdaq Composite.
Diversification Opportunities for TS Investment and Kosdaq Composite
0.7 | Correlation Coefficient |
Poor diversification
The 3 months correlation between 246690 and Kosdaq is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding TS Investment Corp 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 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 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 TS Investment i.e., TS Investment and Kosdaq Composite go up and down completely randomly.
Pair Corralation between TS Investment and Kosdaq Composite
Assuming the 90 days trading horizon TS Investment Corp is expected to under-perform the Kosdaq Composite. In addition to that, TS Investment is 2.28 times more volatile than Kosdaq Composite Index. It trades about -0.2 of its total potential returns per unit of risk. Kosdaq Composite Index is currently generating about 0.12 per unit of volatility. If you would invest 69,853 in Kosdaq Composite Index on October 15, 2024 and sell it today you would earn a total of 1,936 from holding Kosdaq Composite Index or generate 2.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
TS Investment Corp vs. Kosdaq Composite Index
Performance |
| Timeline |
TS Investment and Kosdaq Composite Volatility Contrast
Predicted Return Density |
| Returns |
TS Investment Corp
Pair trading matchups for TS Investment
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
Pair Trading with TS Investment and Kosdaq Composite
The main advantage of trading using opposite TS Investment and Kosdaq Composite positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TS Investment 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.| TS Investment vs. SK Telecom Co | TS Investment vs. Korea Information Communications | TS Investment vs. Bosung Power Technology | TS Investment vs. Asia Technology Co |
| 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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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