Correlation Between Ceragon Networks and Samsung KODEX
Can any of the company-specific risk be diversified away by investing in both Ceragon Networks and Samsung KODEX 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 Ceragon Networks and Samsung KODEX into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ceragon Networks and Samsung KODEX TRF5050, you can compare the effects of market volatilities on Ceragon Networks and Samsung KODEX 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 Ceragon Networks with a short position of Samsung KODEX. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ceragon Networks and Samsung KODEX.
Diversification Opportunities for Ceragon Networks and Samsung KODEX
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Ceragon and Samsung is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Ceragon Networks and Samsung KODEX TRF5050 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Samsung KODEX TRF5050 and Ceragon Networks 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 Ceragon Networks are associated (or correlated) with Samsung KODEX. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Samsung KODEX TRF5050 has no effect on the direction of Ceragon Networks i.e., Ceragon Networks and Samsung KODEX go up and down completely randomly.
Pair Corralation between Ceragon Networks and Samsung KODEX
If you would invest 187.00 in Ceragon Networks on September 4, 2024 and sell it today you would earn a total of 252.00 from holding Ceragon Networks or generate 134.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Ceragon Networks vs. Samsung KODEX TRF5050
Performance |
| Timeline |
| Ceragon Networks |
| Samsung KODEX TRF5050 |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Ceragon Networks and Samsung KODEX Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ceragon Networks and Samsung KODEX
The main advantage of trading using opposite Ceragon Networks and Samsung KODEX positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ceragon Networks position performs unexpectedly, Samsung KODEX 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 KODEX will offset losses from the drop in Samsung KODEX's long position.| Ceragon Networks vs. Cambium Networks Corp | Ceragon Networks vs. KVH Industries | Ceragon Networks vs. Knowles Cor | Ceragon Networks vs. AudioCodes |
| Samsung KODEX vs. Samsung KODEX IT | Samsung KODEX vs. Samsung KODEX Machinary | Samsung KODEX vs. Samsung KODEX Samsung | Samsung KODEX vs. Samsung Asset Management |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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