Correlation Between Kool2play and WIG 30
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By analyzing existing cross correlation between Kool2play SA and WIG 30, you can compare the effects of market volatilities on Kool2play and WIG 30 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 Kool2play with a short position of WIG 30. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kool2play and WIG 30.
Diversification Opportunities for Kool2play and WIG 30
Poor diversification
The 3 months correlation between Kool2play and WIG is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding Kool2play SA and WIG 30 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WIG 30 and Kool2play 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 Kool2play SA are associated (or correlated) with WIG 30. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WIG 30 has no effect on the direction of Kool2play i.e., Kool2play and WIG 30 go up and down completely randomly.
Pair Corralation between Kool2play and WIG 30
Assuming the 90 days trading horizon Kool2play SA is expected to under-perform the WIG 30. In addition to that, Kool2play is 5.82 times more volatile than WIG 30. It trades about -0.02 of its total potential returns per unit of risk. WIG 30 is currently generating about 0.01 per unit of volatility. If you would invest 287,131 in WIG 30 on September 4, 2024 and sell it today you would earn a total of 584.00 from holding WIG 30 or generate 0.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 92.68% |
| Values | Daily Returns |
Kool2play SA vs. WIG 30
Performance |
| Timeline |
Kool2play and WIG 30 Volatility Contrast
Predicted Return Density |
| Returns |
Kool2play SA
Pair trading matchups for Kool2play
WIG 30
Pair trading matchups for WIG 30
Pair Trading with Kool2play and WIG 30
The main advantage of trading using opposite Kool2play and WIG 30 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kool2play position performs unexpectedly, WIG 30 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 WIG 30 will offset losses from the drop in WIG 30's long position.| Kool2play vs. Clean Carbon Energy | Kool2play vs. ADX | Kool2play vs. Agroliga Group PLC | Kool2play vs. Vee SA |
| WIG 30 vs. Ultimate Games SA | WIG 30 vs. Echo Investment SA | WIG 30 vs. SOFTWARE MANSION SPOLKA | WIG 30 vs. TEN SQUARE GAMES |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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