Correlation Between KEPPEL CORP and SERI INDUSTRIAL
Can any of the company-specific risk be diversified away by investing in both KEPPEL CORP and SERI INDUSTRIAL 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 KEPPEL CORP and SERI INDUSTRIAL into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between KEPPEL P and SERI INDUSTRIAL EO, you can compare the effects of market volatilities on KEPPEL CORP and SERI INDUSTRIAL 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 KEPPEL CORP with a short position of SERI INDUSTRIAL. Check out your portfolio center. Please also check ongoing floating volatility patterns of KEPPEL CORP and SERI INDUSTRIAL.
Diversification Opportunities for KEPPEL CORP and SERI INDUSTRIAL
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between KEPPEL and SERI is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding KEPPEL P and SERI INDUSTRIAL EO in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SERI INDUSTRIAL EO and KEPPEL CORP 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 KEPPEL P are associated (or correlated) with SERI INDUSTRIAL. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SERI INDUSTRIAL EO has no effect on the direction of KEPPEL CORP i.e., KEPPEL CORP and SERI INDUSTRIAL go up and down completely randomly.
Pair Corralation between KEPPEL CORP and SERI INDUSTRIAL
If you would invest 0.00 in KEPPEL P on September 2, 2024 and sell it today you would earn a total of 0.00 from holding KEPPEL P or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.77% |
| Values | Daily Returns |
KEPPEL P vs. SERI INDUSTRIAL EO
Performance |
| Timeline |
| KEPPEL CORP |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Good
| SERI INDUSTRIAL EO |
KEPPEL CORP and SERI INDUSTRIAL Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KEPPEL CORP and SERI INDUSTRIAL
The main advantage of trading using opposite KEPPEL CORP and SERI INDUSTRIAL positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KEPPEL CORP position performs unexpectedly, SERI INDUSTRIAL 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 SERI INDUSTRIAL will offset losses from the drop in SERI INDUSTRIAL's long position.| KEPPEL CORP vs. QBE Insurance Group | KEPPEL CORP vs. Avanos Medical | KEPPEL CORP vs. Reinsurance Group of | KEPPEL CORP vs. Selective Insurance Group |
| SERI INDUSTRIAL vs. Apple Inc | SERI INDUSTRIAL vs. Apple Inc | SERI INDUSTRIAL vs. Apple Inc | SERI INDUSTRIAL vs. Apple Inc |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Other Complementary Tools
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets |