Correlation Between Kosdaq Composite and Bookook Securities
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By analyzing existing cross correlation between Kosdaq Composite Index and Bookook Securities Co, you can compare the effects of market volatilities on Kosdaq Composite and Bookook Securities 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 Kosdaq Composite with a short position of Bookook Securities. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kosdaq Composite and Bookook Securities.
Diversification Opportunities for Kosdaq Composite and Bookook Securities
-0.6 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Kosdaq and Bookook is -0.6. Overlapping area represents the amount of risk that can be diversified away by holding Kosdaq Composite Index and Bookook Securities Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bookook Securities and Kosdaq Composite 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 Kosdaq Composite Index are associated (or correlated) with Bookook Securities. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bookook Securities has no effect on the direction of Kosdaq Composite i.e., Kosdaq Composite and Bookook Securities go up and down completely randomly.
Pair Corralation between Kosdaq Composite and Bookook Securities
Assuming the 90 days trading horizon Kosdaq Composite Index is expected to generate 2.18 times more return on investment than Bookook Securities. However, Kosdaq Composite is 2.18 times more volatile than Bookook Securities Co. It trades about 0.26 of its potential returns per unit of risk. Bookook Securities Co is currently generating about -0.08 per unit of risk. If you would invest 72,829 in Kosdaq Composite Index on November 28, 2024 and sell it today you would earn a total of 4,521 from holding Kosdaq Composite Index or generate 6.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kosdaq Composite Index vs. Bookook Securities Co
Performance |
| Timeline |
Kosdaq Composite and Bookook Securities Volatility Contrast
Predicted Return Density |
| Returns |
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
Bookook Securities Co
Pair trading matchups for Bookook Securities
Pair Trading with Kosdaq Composite and Bookook Securities
The main advantage of trading using opposite Kosdaq Composite and Bookook Securities positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kosdaq Composite position performs unexpectedly, Bookook Securities 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 Bookook Securities will offset losses from the drop in Bookook Securities' long position.| Kosdaq Composite vs. Digital Power Communications | Kosdaq Composite vs. Chorokbaem Healthcare Co | Kosdaq Composite vs. LG Household Healthcare | Kosdaq Composite vs. PlayD Co |
| Bookook Securities vs. Hanwha InvestmentSecurities Co | Bookook Securities vs. PJ Metal Co | Bookook Securities vs. Korea Investment Holdings | Bookook Securities vs. SBI Investment KOREA |
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 Portfolio Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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