Correlation Between PK Skin and Samsung Electronics
Can any of the company-specific risk be diversified away by investing in both PK Skin and Samsung 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 PK Skin and Samsung Electronics into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between PK Skin Research and Samsung Electronics Co, you can compare the effects of market volatilities on PK Skin and Samsung 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 PK Skin with a short position of Samsung Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of PK Skin and Samsung Electronics.
Diversification Opportunities for PK Skin and Samsung Electronics
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between 347740 and Samsung is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding PK Skin Research and Samsung Electronics Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Samsung Electronics and PK Skin 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 PK Skin Research are associated (or correlated) with Samsung Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Samsung Electronics has no effect on the direction of PK Skin i.e., PK Skin and Samsung Electronics go up and down completely randomly.
Pair Corralation between PK Skin and Samsung Electronics
If you would invest (100.00) in PK Skin Research on September 4, 2024 and sell it today you would earn a total of 100.00 from holding PK Skin Research 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 |
PK Skin Research vs. Samsung Electronics Co
Performance |
| Timeline |
| PK Skin Research |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Samsung Electronics |
PK Skin and Samsung Electronics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with PK Skin and Samsung Electronics
The main advantage of trading using opposite PK Skin and Samsung Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if PK Skin position performs unexpectedly, Samsung 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 Samsung Electronics will offset losses from the drop in Samsung Electronics' long position.| PK Skin vs. BNK Financial Group | PK Skin vs. Iljin Display | PK Skin vs. Koryo Credit Information | PK Skin vs. CG Hi Tech |
| Samsung Electronics vs. DC Media Co | Samsung Electronics vs. Shinsegae Information Communication | Samsung Electronics vs. Insung Information Co | Samsung Electronics vs. FNC Entertainment 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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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