Correlation Between Kosdaq Composite and Anam Electronics
Specify exactly 2 symbols:
By analyzing existing cross correlation between Kosdaq Composite Index and Anam Electronics Co, you can compare the effects of market volatilities on Kosdaq Composite and Anam Electronics 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 Anam Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kosdaq Composite and Anam Electronics.
Diversification Opportunities for Kosdaq Composite and Anam Electronics
0.8 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Kosdaq and Anam is 0.8. Overlapping area represents the amount of risk that can be diversified away by holding Kosdaq Composite Index and Anam Electronics Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anam Electronics 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 Anam Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anam Electronics has no effect on the direction of Kosdaq Composite i.e., Kosdaq Composite and Anam Electronics go up and down completely randomly.
Pair Corralation between Kosdaq Composite and Anam Electronics
Assuming the 90 days trading horizon Kosdaq Composite Index is expected to under-perform the Anam Electronics. But the index apears to be less risky and, when comparing its historical volatility, Kosdaq Composite Index is 1.44 times less risky than Anam Electronics. The index trades about -0.19 of its potential returns per unit of risk. The Anam Electronics Co is currently generating about -0.11 of returns per unit of risk over similar time horizon. If you would invest 127,800 in Anam Electronics Co on August 29, 2024 and sell it today you would lose (7,200) from holding Anam Electronics Co or give up 5.63% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kosdaq Composite Index vs. Anam Electronics Co
Performance |
| Timeline |
Kosdaq Composite and Anam Electronics Volatility Contrast
Predicted Return Density |
| Returns |
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
Anam Electronics Co
Pair trading matchups for Anam Electronics
Pair Trading with Kosdaq Composite and Anam Electronics
The main advantage of trading using opposite Kosdaq Composite and Anam Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kosdaq Composite position performs unexpectedly, Anam Electronics 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 Anam Electronics will offset losses from the drop in Anam Electronics' long position.| Kosdaq Composite vs. Korea Air Svc | Kosdaq Composite vs. Mobileleader CoLtd | Kosdaq Composite vs. Ssangyong Information Communication | Kosdaq Composite vs. TOPMATERIAL LTD |
| Anam Electronics vs. Osang Healthcare Co,Ltd | Anam Electronics vs. Pureun Mutual Savings | Anam Electronics vs. Incar Financial Service | Anam Electronics vs. DB Financial Investment |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
Other Complementary Tools
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities |