Correlation Between Kosdaq Composite and Kuk Young
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By analyzing existing cross correlation between Kosdaq Composite Index and Kuk Young GM, you can compare the effects of market volatilities on Kosdaq Composite and Kuk Young 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 Kuk Young. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kosdaq Composite and Kuk Young.
Diversification Opportunities for Kosdaq Composite and Kuk Young
-0.29 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Kosdaq and Kuk is -0.29. Overlapping area represents the amount of risk that can be diversified away by holding Kosdaq Composite Index and Kuk Young GM in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kuk Young GM 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 Kuk Young. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kuk Young GM has no effect on the direction of Kosdaq Composite i.e., Kosdaq Composite and Kuk Young go up and down completely randomly.
Pair Corralation between Kosdaq Composite and Kuk Young
Assuming the 90 days trading horizon Kosdaq Composite Index is expected to under-perform the Kuk Young. But the index apears to be less risky and, when comparing its historical volatility, Kosdaq Composite Index is 5.21 times less risky than Kuk Young. The index trades about -0.24 of its potential returns per unit of risk. The Kuk Young GM is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest 187,400 in Kuk Young GM on August 25, 2024 and sell it today you would earn a total of 36,100 from holding Kuk Young GM or generate 19.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kosdaq Composite Index vs. Kuk Young GM
Performance |
| Timeline |
Kosdaq Composite and Kuk Young Volatility Contrast
Predicted Return Density |
| Returns |
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
Kuk Young GM
Pair trading matchups for Kuk Young
Pair Trading with Kosdaq Composite and Kuk Young
The main advantage of trading using opposite Kosdaq Composite and Kuk Young positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kosdaq Composite position performs unexpectedly, Kuk Young 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 Kuk Young will offset losses from the drop in Kuk Young'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 |
| Kuk Young vs. KIWI Media Group | Kuk Young vs. Daewon Media Co | Kuk Young vs. Barunson Entertainment Arts | Kuk Young vs. Pureun Mutual Savings |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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