Correlation Between Netmarble Games and Sambo Corrugated
Can any of the company-specific risk be diversified away by investing in both Netmarble Games and Sambo Corrugated 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 Netmarble Games and Sambo Corrugated into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Netmarble Games Corp and Sambo Corrugated Board, you can compare the effects of market volatilities on Netmarble Games and Sambo Corrugated 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 Netmarble Games with a short position of Sambo Corrugated. Check out your portfolio center. Please also check ongoing floating volatility patterns of Netmarble Games and Sambo Corrugated.
Diversification Opportunities for Netmarble Games and Sambo Corrugated
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Netmarble and Sambo is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Netmarble Games Corp and Sambo Corrugated Board in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sambo Corrugated Board and Netmarble 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 Netmarble Games Corp are associated (or correlated) with Sambo Corrugated. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sambo Corrugated Board has no effect on the direction of Netmarble Games i.e., Netmarble Games and Sambo Corrugated go up and down completely randomly.
Pair Corralation between Netmarble Games and Sambo Corrugated
If you would invest (100.00) in Sambo Corrugated Board on October 7, 2024 and sell it today you would earn a total of 100.00 from holding Sambo Corrugated Board or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Netmarble Games Corp vs. Sambo Corrugated Board
Performance |
| Timeline |
| Netmarble Games Corp |
| Sambo Corrugated Board |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Netmarble Games and Sambo Corrugated Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Netmarble Games and Sambo Corrugated
The main advantage of trading using opposite Netmarble Games and Sambo Corrugated positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Netmarble Games position performs unexpectedly, Sambo Corrugated 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 Sambo Corrugated will offset losses from the drop in Sambo Corrugated's long position.| Netmarble Games vs. Hotel Shilla Co | Netmarble Games vs. Sempio Foods Co | Netmarble Games vs. Ssangyong Information Communication | Netmarble Games vs. Samlip General Foods |
| Sambo Corrugated vs. Innowireless Co | Sambo Corrugated vs. Tway Air Co | Sambo Corrugated vs. Jeju Air Co | Sambo Corrugated vs. Nable Communications |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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