Correlation Between Kosdaq Composite and Daehan Synthetic
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By analyzing existing cross correlation between Kosdaq Composite Index and Daehan Synthetic Fiber, you can compare the effects of market volatilities on Kosdaq Composite and Daehan Synthetic 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 Daehan Synthetic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kosdaq Composite and Daehan Synthetic.
Diversification Opportunities for Kosdaq Composite and Daehan Synthetic
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between Kosdaq and Daehan is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding Kosdaq Composite Index and Daehan Synthetic Fiber in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Daehan Synthetic Fiber 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 Daehan Synthetic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Daehan Synthetic Fiber has no effect on the direction of Kosdaq Composite i.e., Kosdaq Composite and Daehan Synthetic go up and down completely randomly.
Pair Corralation between Kosdaq Composite and Daehan Synthetic
Assuming the 90 days trading horizon Kosdaq Composite Index is expected to under-perform the Daehan Synthetic. In addition to that, Kosdaq Composite is 2.05 times more volatile than Daehan Synthetic Fiber. It trades about -0.21 of its total potential returns per unit of risk. Daehan Synthetic Fiber is currently generating about -0.12 per unit of volatility. If you would invest 11,860,000 in Daehan Synthetic Fiber on August 26, 2024 and sell it today you would lose (230,000) from holding Daehan Synthetic Fiber or give up 1.94% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kosdaq Composite Index vs. Daehan Synthetic Fiber
Performance |
| Timeline |
Kosdaq Composite and Daehan Synthetic Volatility Contrast
Predicted Return Density |
| Returns |
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
Daehan Synthetic Fiber
Pair trading matchups for Daehan Synthetic
Pair Trading with Kosdaq Composite and Daehan Synthetic
The main advantage of trading using opposite Kosdaq Composite and Daehan Synthetic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kosdaq Composite position performs unexpectedly, Daehan Synthetic 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 Daehan Synthetic will offset losses from the drop in Daehan Synthetic's long position.| Kosdaq Composite vs. Kbi Metal Co | Kosdaq Composite vs. Shinsung Delta Tech | Kosdaq Composite vs. Woori Technology | Kosdaq Composite vs. Dongil Metal Co |
| Daehan Synthetic vs. Pan Entertainment Co | Daehan Synthetic vs. Nasmedia Co | Daehan Synthetic vs. LG Chemicals | Daehan Synthetic vs. Taegu Broadcasting |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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