Correlation Between Kosdaq Composite and MEDIANA CoLtd
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By analyzing existing cross correlation between Kosdaq Composite Index and MEDIANA CoLtd, you can compare the effects of market volatilities on Kosdaq Composite and MEDIANA CoLtd 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 MEDIANA CoLtd. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kosdaq Composite and MEDIANA CoLtd.
Diversification Opportunities for Kosdaq Composite and MEDIANA CoLtd
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Kosdaq and MEDIANA is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding Kosdaq Composite Index and MEDIANA CoLtd in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MEDIANA 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 MEDIANA CoLtd. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MEDIANA CoLtd has no effect on the direction of Kosdaq Composite i.e., Kosdaq Composite and MEDIANA CoLtd go up and down completely randomly.
Pair Corralation between Kosdaq Composite and MEDIANA CoLtd
Assuming the 90 days trading horizon Kosdaq Composite Index is expected to generate 0.59 times more return on investment than MEDIANA CoLtd. However, Kosdaq Composite Index is 1.69 times less risky than MEDIANA CoLtd. It trades about 0.33 of its potential returns per unit of risk. MEDIANA CoLtd is currently generating about -0.06 per unit of risk. If you would invest 67,564 in Kosdaq Composite Index on October 26, 2024 and sell it today you would earn a total of 5,290 from holding Kosdaq Composite Index or generate 7.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.0% |
| Values | Daily Returns |
Kosdaq Composite Index vs. MEDIANA CoLtd
Performance |
| Timeline |
Kosdaq Composite and MEDIANA CoLtd Volatility Contrast
Predicted Return Density |
| Returns |
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
MEDIANA CoLtd
Pair trading matchups for MEDIANA CoLtd
Pair Trading with Kosdaq Composite and MEDIANA CoLtd
The main advantage of trading using opposite Kosdaq Composite and MEDIANA CoLtd positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kosdaq Composite position performs unexpectedly, MEDIANA CoLtd 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 MEDIANA CoLtd will offset losses from the drop in MEDIANA CoLtd's long position.| Kosdaq Composite vs. Dongkuk Structures Construction | Kosdaq Composite vs. Asiana Airlines | Kosdaq Composite vs. Hyundai Home Shopping | Kosdaq Composite vs. SK Chemicals Co |
| MEDIANA CoLtd vs. Medy Tox | MEDIANA CoLtd vs. InBody CoLtd | MEDIANA CoLtd vs. Soulbrain Holdings Co | MEDIANA CoLtd vs. Busan Industrial 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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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