Correlation Between JSC Halyk and SEI INVESTMENTS
Can any of the company-specific risk be diversified away by investing in both JSC Halyk and SEI INVESTMENTS 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 JSC Halyk and SEI INVESTMENTS into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between JSC Halyk bank and SEI INVESTMENTS, you can compare the effects of market volatilities on JSC Halyk and SEI INVESTMENTS 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 JSC Halyk with a short position of SEI INVESTMENTS. Check out your portfolio center. Please also check ongoing floating volatility patterns of JSC Halyk and SEI INVESTMENTS.
Diversification Opportunities for JSC Halyk and SEI INVESTMENTS
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between JSC and SEI is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding JSC Halyk bank and SEI INVESTMENTS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SEI INVESTMENTS and JSC Halyk 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 JSC Halyk bank are associated (or correlated) with SEI INVESTMENTS. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SEI INVESTMENTS has no effect on the direction of JSC Halyk i.e., JSC Halyk and SEI INVESTMENTS go up and down completely randomly.
Pair Corralation between JSC Halyk and SEI INVESTMENTS
Assuming the 90 days trading horizon JSC Halyk is expected to generate 6.12 times less return on investment than SEI INVESTMENTS. In addition to that, JSC Halyk is 4.32 times more volatile than SEI INVESTMENTS. It trades about 0.02 of its total potential returns per unit of risk. SEI INVESTMENTS is currently generating about 0.54 per unit of volatility. If you would invest 6,950 in SEI INVESTMENTS on September 2, 2024 and sell it today you would earn a total of 850.00 from holding SEI INVESTMENTS or generate 12.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
JSC Halyk bank vs. SEI INVESTMENTS
Performance |
| Timeline |
| JSC Halyk bank |
| SEI INVESTMENTS |
JSC Halyk and SEI INVESTMENTS Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JSC Halyk and SEI INVESTMENTS
The main advantage of trading using opposite JSC Halyk and SEI INVESTMENTS positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JSC Halyk position performs unexpectedly, SEI INVESTMENTS 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 SEI INVESTMENTS will offset losses from the drop in SEI INVESTMENTS's long position.| JSC Halyk vs. IDP EDUCATION LTD | JSC Halyk vs. TROPHY GAMES DEV | JSC Halyk vs. CHINA EDUCATION GROUP | JSC Halyk vs. Adtalem Global Education |
| SEI INVESTMENTS vs. Hyster Yale Materials Handling | SEI INVESTMENTS vs. Rayonier Advanced Materials | SEI INVESTMENTS vs. BORR DRILLING NEW | SEI INVESTMENTS vs. Sixt Leasing SE |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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