Correlation Between KB Financial and Fast Radius
Can any of the company-specific risk be diversified away by investing in both KB Financial and Fast Radius 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 KB Financial and Fast Radius into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between KB Financial Group and Fast Radius, you can compare the effects of market volatilities on KB Financial and Fast Radius 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 KB Financial with a short position of Fast Radius. Check out your portfolio center. Please also check ongoing floating volatility patterns of KB Financial and Fast Radius.
Diversification Opportunities for KB Financial and Fast Radius
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between KB Financial and Fast is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding KB Financial Group and Fast Radius in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fast Radius and KB Financial 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 KB Financial Group are associated (or correlated) with Fast Radius. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fast Radius has no effect on the direction of KB Financial i.e., KB Financial and Fast Radius go up and down completely randomly.
Pair Corralation between KB Financial and Fast Radius
If you would invest 3,578 in KB Financial Group on September 12, 2024 and sell it today you would earn a total of 2,270 from holding KB Financial Group or generate 63.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.28% |
| Values | Daily Returns |
KB Financial Group vs. Fast Radius
Performance |
| Timeline |
| KB Financial Group |
| Fast Radius |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
KB Financial and Fast Radius Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KB Financial and Fast Radius
The main advantage of trading using opposite KB Financial and Fast Radius positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KB Financial position performs unexpectedly, Fast Radius 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 Fast Radius will offset losses from the drop in Fast Radius' long position.| KB Financial vs. Shinhan Financial Group | KB Financial vs. Woori Financial Group | KB Financial vs. Korea Electric Power | KB Financial vs. Orix Corp Ads |
| Fast Radius vs. GameStop Corp | Fast Radius vs. Boyd Gaming | Fast Radius vs. Funko Inc | Fast Radius vs. Evolution Gaming Group |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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