Correlation Between Kosdaq Composite and INFINITT Healthcare
Specify exactly 2 symbols:
By analyzing existing cross correlation between Kosdaq Composite Index and INFINITT Healthcare Co, you can compare the effects of market volatilities on Kosdaq Composite and INFINITT Healthcare 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 INFINITT Healthcare. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kosdaq Composite and INFINITT Healthcare.
Diversification Opportunities for Kosdaq Composite and INFINITT Healthcare
0.26 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Kosdaq and INFINITT is 0.26. Overlapping area represents the amount of risk that can be diversified away by holding Kosdaq Composite Index and INFINITT Healthcare Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INFINITT Healthcare 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 INFINITT Healthcare. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INFINITT Healthcare has no effect on the direction of Kosdaq Composite i.e., Kosdaq Composite and INFINITT Healthcare go up and down completely randomly.
Pair Corralation between Kosdaq Composite and INFINITT Healthcare
Assuming the 90 days trading horizon Kosdaq Composite Index is expected to generate 0.66 times more return on investment than INFINITT Healthcare. However, Kosdaq Composite Index is 1.52 times less risky than INFINITT Healthcare. It trades about 0.0 of its potential returns per unit of risk. INFINITT Healthcare Co is currently generating about 0.0 per unit of risk. If you would invest 71,814 in Kosdaq Composite Index on August 28, 2024 and sell it today you would lose (1,983) from holding Kosdaq Composite Index or give up 2.76% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kosdaq Composite Index vs. INFINITT Healthcare Co
Performance |
| Timeline |
Kosdaq Composite and INFINITT Healthcare Volatility Contrast
Predicted Return Density |
| Returns |
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
INFINITT Healthcare Co
Pair trading matchups for INFINITT Healthcare
Pair Trading with Kosdaq Composite and INFINITT Healthcare
The main advantage of trading using opposite Kosdaq Composite and INFINITT Healthcare positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kosdaq Composite position performs unexpectedly, INFINITT Healthcare 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 INFINITT Healthcare will offset losses from the drop in INFINITT Healthcare'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 |
| INFINITT Healthcare vs. Medy Tox | INFINITT Healthcare vs. Busan Industrial Co | INFINITT Healthcare vs. Busan Ind | INFINITT Healthcare vs. Mirae Asset Daewoo |
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 Managers module to screen money managers from public funds and ETFs managed around the world.
Other Complementary Tools
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments |