Correlation Between Kumpulan Kitacon and Digistar Bhd
Can any of the company-specific risk be diversified away by investing in both Kumpulan Kitacon and Digistar Bhd 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 Kumpulan Kitacon and Digistar Bhd into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kumpulan Kitacon Berhad and Digistar Bhd, you can compare the effects of market volatilities on Kumpulan Kitacon and Digistar Bhd 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 Kumpulan Kitacon with a short position of Digistar Bhd. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kumpulan Kitacon and Digistar Bhd.
Diversification Opportunities for Kumpulan Kitacon and Digistar Bhd
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kumpulan and Digistar is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Kumpulan Kitacon Berhad and Digistar Bhd in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Digistar Bhd and Kumpulan Kitacon 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 Kumpulan Kitacon Berhad are associated (or correlated) with Digistar Bhd. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Digistar Bhd has no effect on the direction of Kumpulan Kitacon i.e., Kumpulan Kitacon and Digistar Bhd go up and down completely randomly.
Pair Corralation between Kumpulan Kitacon and Digistar Bhd
If you would invest 71.00 in Kumpulan Kitacon Berhad on August 24, 2024 and sell it today you would earn a total of 0.00 from holding Kumpulan Kitacon Berhad or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Kumpulan Kitacon Berhad vs. Digistar Bhd
Performance |
| Timeline |
| Kumpulan Kitacon Berhad |
| Digistar Bhd |
Kumpulan Kitacon and Digistar Bhd Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kumpulan Kitacon and Digistar Bhd
The main advantage of trading using opposite Kumpulan Kitacon and Digistar Bhd positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kumpulan Kitacon position performs unexpectedly, Digistar Bhd 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 Digistar Bhd will offset losses from the drop in Digistar Bhd's long position.| Kumpulan Kitacon vs. Petronas Chemicals Group | Kumpulan Kitacon vs. Press Metal Bhd | Kumpulan Kitacon vs. K One Technology Bhd | Kumpulan Kitacon vs. MClean Technologies Bhd |
| Digistar Bhd vs. Press Metal Bhd | Digistar Bhd vs. ES Ceramics Technology | Digistar Bhd vs. Awanbiru Technology Bhd | Digistar Bhd vs. Silver Ridge Holdings |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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