Correlation Between Cuckoo Homesys and Samlip General
Can any of the company-specific risk be diversified away by investing in both Cuckoo Homesys and Samlip General 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 Cuckoo Homesys and Samlip General into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cuckoo Homesys Co and Samlip General Foods, you can compare the effects of market volatilities on Cuckoo Homesys and Samlip General 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 Cuckoo Homesys with a short position of Samlip General. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cuckoo Homesys and Samlip General.
Diversification Opportunities for Cuckoo Homesys and Samlip General
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between Cuckoo and Samlip is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding Cuckoo Homesys Co and Samlip General Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Samlip General Foods and Cuckoo Homesys 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 Cuckoo Homesys Co are associated (or correlated) with Samlip General. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Samlip General Foods has no effect on the direction of Cuckoo Homesys i.e., Cuckoo Homesys and Samlip General go up and down completely randomly.
Pair Corralation between Cuckoo Homesys and Samlip General
Assuming the 90 days trading horizon Cuckoo Homesys Co is expected to generate 0.46 times more return on investment than Samlip General. However, Cuckoo Homesys Co is 2.18 times less risky than Samlip General. It trades about -0.3 of its potential returns per unit of risk. Samlip General Foods is currently generating about -0.57 per unit of risk. If you would invest 2,010,000 in Cuckoo Homesys Co on November 7, 2024 and sell it today you would lose (79,000) from holding Cuckoo Homesys Co or give up 3.93% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cuckoo Homesys Co vs. Samlip General Foods
Performance |
| Timeline |
| Cuckoo Homesys |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Samlip General Foods |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Cuckoo Homesys and Samlip General Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cuckoo Homesys and Samlip General
The main advantage of trading using opposite Cuckoo Homesys and Samlip General positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cuckoo Homesys position performs unexpectedly, Samlip General 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 Samlip General will offset losses from the drop in Samlip General's long position.| Cuckoo Homesys vs. Mgame Corp | Cuckoo Homesys vs. Settlebank | Cuckoo Homesys vs. Shinhan Inverse Copper | Cuckoo Homesys vs. Hankukpackage Co |
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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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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