Correlation Between DAEDUCK ELECTRONICS and Kortek
Can any of the company-specific risk be diversified away by investing in both DAEDUCK ELECTRONICS and Kortek 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 DAEDUCK ELECTRONICS and Kortek into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between DAEDUCK ELECTRONICS CoLtd and Kortek, you can compare the effects of market volatilities on DAEDUCK ELECTRONICS and Kortek 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 DAEDUCK ELECTRONICS with a short position of Kortek. Check out your portfolio center. Please also check ongoing floating volatility patterns of DAEDUCK ELECTRONICS and Kortek.
Diversification Opportunities for DAEDUCK ELECTRONICS and Kortek
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between DAEDUCK and Kortek is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding DAEDUCK ELECTRONICS CoLtd and Kortek in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kortek and DAEDUCK ELECTRONICS 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 DAEDUCK ELECTRONICS CoLtd are associated (or correlated) with Kortek. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kortek has no effect on the direction of DAEDUCK ELECTRONICS i.e., DAEDUCK ELECTRONICS and Kortek go up and down completely randomly.
Pair Corralation between DAEDUCK ELECTRONICS and Kortek
If you would invest (100.00) in Kortek on December 4, 2024 and sell it today you would earn a total of 100.00 from holding Kortek 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 |
DAEDUCK ELECTRONICS CoLtd vs. Kortek
Performance |
| Timeline |
| DAEDUCK ELECTRONICS CoLtd |
| Kortek |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
DAEDUCK ELECTRONICS and Kortek Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with DAEDUCK ELECTRONICS and Kortek
The main advantage of trading using opposite DAEDUCK ELECTRONICS and Kortek positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DAEDUCK ELECTRONICS position performs unexpectedly, Kortek 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 Kortek will offset losses from the drop in Kortek's long position.| DAEDUCK ELECTRONICS vs. GAMEVIL | DAEDUCK ELECTRONICS vs. DB Financial Investment | DAEDUCK ELECTRONICS vs. MetaLabs Co | DAEDUCK ELECTRONICS vs. Mgame Corp |
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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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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