Correlation Between KB Financial and GIYANI GOLD
Can any of the company-specific risk be diversified away by investing in both KB Financial and GIYANI GOLD 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 GIYANI GOLD 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 GIYANI GOLD, you can compare the effects of market volatilities on KB Financial and GIYANI GOLD 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 GIYANI GOLD. Check out your portfolio center. Please also check ongoing floating volatility patterns of KB Financial and GIYANI GOLD.
Diversification Opportunities for KB Financial and GIYANI GOLD
-0.32 | Correlation Coefficient |
Very good diversification
The 3 months correlation between KBIA and GIYANI is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding KB Financial Group and GIYANI GOLD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GIYANI GOLD 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 GIYANI GOLD. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GIYANI GOLD has no effect on the direction of KB Financial i.e., KB Financial and GIYANI GOLD go up and down completely randomly.
Pair Corralation between KB Financial and GIYANI GOLD
If you would invest 6.50 in GIYANI GOLD on September 13, 2024 and sell it today you would earn a total of 0.00 from holding GIYANI GOLD or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
KB Financial Group vs. GIYANI GOLD
Performance |
| Timeline |
| KB Financial Group |
| GIYANI GOLD |
KB Financial and GIYANI GOLD Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KB Financial and GIYANI GOLD
The main advantage of trading using opposite KB Financial and GIYANI GOLD positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KB Financial position performs unexpectedly, GIYANI GOLD 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 GIYANI GOLD will offset losses from the drop in GIYANI GOLD's long position.| KB Financial vs. Elmos Semiconductor SE | KB Financial vs. TRADEGATE | KB Financial vs. CANON MARKETING JP | KB Financial vs. MARKET VECTR RETAIL |
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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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
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