Correlation Between CKH Food and MediaZen
Can any of the company-specific risk be diversified away by investing in both CKH Food and MediaZen 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 CKH Food and MediaZen into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CKH Food Health and MediaZen, you can compare the effects of market volatilities on CKH Food and MediaZen 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 CKH Food with a short position of MediaZen. Check out your portfolio center. Please also check ongoing floating volatility patterns of CKH Food and MediaZen.
Diversification Opportunities for CKH Food and MediaZen
Pay attention - limited upside
The 3 months correlation between CKH and MediaZen is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CKH Food Health and MediaZen in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MediaZen and CKH Food 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 CKH Food Health are associated (or correlated) with MediaZen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MediaZen has no effect on the direction of CKH Food i.e., CKH Food and MediaZen go up and down completely randomly.
Pair Corralation between CKH Food and MediaZen
If you would invest 1,130,000 in MediaZen on November 3, 2024 and sell it today you would earn a total of 0.00 from holding MediaZen or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 94.74% |
| Values | Daily Returns |
CKH Food Health vs. MediaZen
Performance |
| Timeline |
| CKH Food Health |
| MediaZen |
CKH Food and MediaZen Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CKH Food and MediaZen
The main advantage of trading using opposite CKH Food and MediaZen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CKH Food position performs unexpectedly, MediaZen 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 MediaZen will offset losses from the drop in MediaZen's long position.| CKH Food vs. Kg Chemical | CKH Food vs. Daishin Information Communications | CKH Food vs. SK Telecom Co | CKH Food vs. ECSTELECOM Co |
| MediaZen vs. LEENO Industrial | MediaZen vs. Daesung Industrial Co | MediaZen vs. Daejung Chemicals Metals | MediaZen vs. Hyunwoo Industrial 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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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