Correlation Between AptaBio Therapeutics and Samsung Card
Can any of the company-specific risk be diversified away by investing in both AptaBio Therapeutics and Samsung Card 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 AptaBio Therapeutics and Samsung Card into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between AptaBio Therapeutics and Samsung Card Co, you can compare the effects of market volatilities on AptaBio Therapeutics and Samsung Card 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 AptaBio Therapeutics with a short position of Samsung Card. Check out your portfolio center. Please also check ongoing floating volatility patterns of AptaBio Therapeutics and Samsung Card.
Diversification Opportunities for AptaBio Therapeutics and Samsung Card
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between AptaBio and Samsung is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding AptaBio Therapeutics and Samsung Card Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Samsung Card and AptaBio Therapeutics 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 AptaBio Therapeutics are associated (or correlated) with Samsung Card. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Samsung Card has no effect on the direction of AptaBio Therapeutics i.e., AptaBio Therapeutics and Samsung Card go up and down completely randomly.
Pair Corralation between AptaBio Therapeutics and Samsung Card
Assuming the 90 days trading horizon AptaBio Therapeutics is expected to under-perform the Samsung Card. In addition to that, AptaBio Therapeutics is 2.87 times more volatile than Samsung Card Co. It trades about -0.01 of its total potential returns per unit of risk. Samsung Card Co is currently generating about 0.07 per unit of volatility. If you would invest 2,824,695 in Samsung Card Co on September 2, 2024 and sell it today you would earn a total of 1,445,305 from holding Samsung Card Co or generate 51.17% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
AptaBio Therapeutics vs. Samsung Card Co
Performance |
| Timeline |
| AptaBio Therapeutics |
| Samsung Card |
AptaBio Therapeutics and Samsung Card Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AptaBio Therapeutics and Samsung Card
The main advantage of trading using opposite AptaBio Therapeutics and Samsung Card positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AptaBio Therapeutics position performs unexpectedly, Samsung Card 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 Samsung Card will offset losses from the drop in Samsung Card's long position.| AptaBio Therapeutics vs. ABL Bio | AptaBio Therapeutics vs. Helixmith Co | AptaBio Therapeutics vs. OliX PharmaceuticalsInc | AptaBio Therapeutics vs. Oscotec |
| Samsung Card vs. Sangsin Energy Display | Samsung Card vs. Chin Yang Chemical | Samsung Card vs. SH Energy Chemical | Samsung Card vs. Hannong Chemicals |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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