Correlation Between Kosdaq Composite and Inzi Display
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By analyzing existing cross correlation between Kosdaq Composite Index and Inzi Display CoLtd, you can compare the effects of market volatilities on Kosdaq Composite and Inzi Display 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 Inzi Display. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kosdaq Composite and Inzi Display.
Diversification Opportunities for Kosdaq Composite and Inzi Display
0.72 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Kosdaq and Inzi is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding Kosdaq Composite Index and Inzi Display CoLtd in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Inzi Display CoLtd 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 Inzi Display. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Inzi Display CoLtd has no effect on the direction of Kosdaq Composite i.e., Kosdaq Composite and Inzi Display go up and down completely randomly.
Pair Corralation between Kosdaq Composite and Inzi Display
Assuming the 90 days trading horizon Kosdaq Composite Index is expected to generate 1.16 times more return on investment than Inzi Display. However, Kosdaq Composite is 1.16 times more volatile than Inzi Display CoLtd. It trades about -0.17 of its potential returns per unit of risk. Inzi Display CoLtd is currently generating about -0.38 per unit of risk. If you would invest 74,048 in Kosdaq Composite Index on August 28, 2024 and sell it today you would lose (4,217) from holding Kosdaq Composite Index or give up 5.69% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kosdaq Composite Index vs. Inzi Display CoLtd
Performance |
| Timeline |
Kosdaq Composite and Inzi Display Volatility Contrast
Predicted Return Density |
| Returns |
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
Inzi Display CoLtd
Pair trading matchups for Inzi Display
Pair Trading with Kosdaq Composite and Inzi Display
The main advantage of trading using opposite Kosdaq Composite and Inzi Display positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kosdaq Composite position performs unexpectedly, Inzi Display 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 Inzi Display will offset losses from the drop in Inzi Display's long position.| Kosdaq Composite vs. Daejung Chemicals Metals | Kosdaq Composite vs. LG Household Healthcare | Kosdaq Composite vs. Cuckoo Homesys Co | Kosdaq Composite vs. Osang Healthcare Co,Ltd |
| Inzi Display vs. Korea Real Estate | Inzi Display vs. Korea Ratings Co | Inzi Display vs. IQuest Co | Inzi Display vs. Wonbang Tech Co |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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