Correlation Between KB Financial and NanoString Technologies
Can any of the company-specific risk be diversified away by investing in both KB Financial and NanoString Technologies 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 NanoString Technologies 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 NanoString Technologies, you can compare the effects of market volatilities on KB Financial and NanoString Technologies 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 NanoString Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of KB Financial and NanoString Technologies.
Diversification Opportunities for KB Financial and NanoString Technologies
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between KB Financial and NanoString is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding KB Financial Group and NanoString Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on NanoString Technologies 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 NanoString Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NanoString Technologies has no effect on the direction of KB Financial i.e., KB Financial and NanoString Technologies go up and down completely randomly.
Pair Corralation between KB Financial and NanoString Technologies
If you would invest 5,686 in KB Financial Group on November 3, 2024 and sell it today you would earn a total of 561.00 from holding KB Financial Group or generate 9.87% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.76% |
| Values | Daily Returns |
KB Financial Group vs. NanoString Technologies
Performance |
| Timeline |
| KB Financial Group |
| NanoString Technologies |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
KB Financial and NanoString Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KB Financial and NanoString Technologies
The main advantage of trading using opposite KB Financial and NanoString Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KB Financial position performs unexpectedly, NanoString Technologies 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 NanoString Technologies will offset losses from the drop in NanoString Technologies' 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 |
| NanoString Technologies vs. Veracyte | NanoString Technologies vs. Syros Pharmaceuticals | NanoString Technologies vs. Seres Therapeutics | NanoString Technologies vs. Iovance Biotherapeutics |
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 CEOs Directory module to screen CEOs from public companies around the world.
Other Complementary Tools
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. |