Correlation Between Kosdaq Composite and KyungIn Electronics
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By analyzing existing cross correlation between Kosdaq Composite Index and KyungIn Electronics Co, you can compare the effects of market volatilities on Kosdaq Composite and KyungIn 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 KyungIn Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kosdaq Composite and KyungIn Electronics.
Diversification Opportunities for Kosdaq Composite and KyungIn Electronics
0.3 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Kosdaq and KyungIn is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding Kosdaq Composite Index and KyungIn Electronics Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KyungIn 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 KyungIn Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KyungIn Electronics has no effect on the direction of Kosdaq Composite i.e., Kosdaq Composite and KyungIn Electronics go up and down completely randomly.
Pair Corralation between Kosdaq Composite and KyungIn Electronics
Assuming the 90 days trading horizon Kosdaq Composite Index is expected to under-perform the KyungIn Electronics. In addition to that, Kosdaq Composite is 1.17 times more volatile than KyungIn Electronics Co. It trades about -0.16 of its total potential returns per unit of risk. KyungIn Electronics Co is currently generating about 0.01 per unit of volatility. If you would invest 2,085,000 in KyungIn Electronics Co on August 28, 2024 and sell it today you would earn a total of 5,000 from holding KyungIn Electronics Co or generate 0.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kosdaq Composite Index vs. KyungIn Electronics Co
Performance |
| Timeline |
Kosdaq Composite and KyungIn Electronics Volatility Contrast
Predicted Return Density |
| Returns |
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
KyungIn Electronics Co
Pair trading matchups for KyungIn Electronics
Pair Trading with Kosdaq Composite and KyungIn Electronics
The main advantage of trading using opposite Kosdaq Composite and KyungIn Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kosdaq Composite position performs unexpectedly, KyungIn 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 KyungIn Electronics will offset losses from the drop in KyungIn Electronics' long position.| Kosdaq Composite vs. Shinil Electronics Co | Kosdaq Composite vs. Sungdo Engineering Construction | Kosdaq Composite vs. Seoul Electronics Telecom | Kosdaq Composite vs. ENERGYMACHINERY KOREA CoLtd |
| KyungIn Electronics vs. FOODWELL Co | KyungIn Electronics vs. Organic Special Pet | KyungIn Electronics vs. CJ Seafood Corp | KyungIn Electronics vs. CJ Seafood Corp |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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