Correlation Between SK TELECOM and EPSILON HEALTHCARE
Can any of the company-specific risk be diversified away by investing in both SK TELECOM and EPSILON HEALTHCARE 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 SK TELECOM and EPSILON HEALTHCARE into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between SK TELECOM TDADR and EPSILON HEALTHCARE LTD, you can compare the effects of market volatilities on SK TELECOM and EPSILON HEALTHCARE 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 SK TELECOM with a short position of EPSILON HEALTHCARE. Check out your portfolio center. Please also check ongoing floating volatility patterns of SK TELECOM and EPSILON HEALTHCARE.
Diversification Opportunities for SK TELECOM and EPSILON HEALTHCARE
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between KMBA and EPSILON is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding SK TELECOM TDADR and EPSILON HEALTHCARE LTD in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EPSILON HEALTHCARE LTD and SK TELECOM 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 SK TELECOM TDADR are associated (or correlated) with EPSILON HEALTHCARE. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EPSILON HEALTHCARE LTD has no effect on the direction of SK TELECOM i.e., SK TELECOM and EPSILON HEALTHCARE go up and down completely randomly.
Pair Corralation between SK TELECOM and EPSILON HEALTHCARE
If you would invest 2,020 in SK TELECOM TDADR on December 1, 2024 and sell it today you would earn a total of 60.00 from holding SK TELECOM TDADR or generate 2.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
SK TELECOM TDADR vs. EPSILON HEALTHCARE LTD
Performance |
| Timeline |
| SK TELECOM TDADR |
| EPSILON HEALTHCARE LTD |
SK TELECOM and EPSILON HEALTHCARE Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SK TELECOM and EPSILON HEALTHCARE
The main advantage of trading using opposite SK TELECOM and EPSILON HEALTHCARE positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SK TELECOM position performs unexpectedly, EPSILON HEALTHCARE 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 EPSILON HEALTHCARE will offset losses from the drop in EPSILON HEALTHCARE's long position.| SK TELECOM vs. PATTIES FOODS | SK TELECOM vs. China Modern Dairy | SK TELECOM vs. GURU ORGANIC ENERGY | SK TELECOM vs. GRENKELEASING Dusseldorf |
| EPSILON HEALTHCARE vs. TRADEGATE | EPSILON HEALTHCARE vs. ULTRA CLEAN HLDGS | EPSILON HEALTHCARE vs. COMM HEALTH SYSTEMS | EPSILON HEALTHCARE vs. ALERION CLEANPOWER |
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.
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