Correlation Between Kosdaq Composite and Genic
Specify exactly 2 symbols:
By analyzing existing cross correlation between Kosdaq Composite Index and Genic Co, you can compare the effects of market volatilities on Kosdaq Composite and Genic 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 Genic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kosdaq Composite and Genic.
Diversification Opportunities for Kosdaq Composite and Genic
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Kosdaq and Genic is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding Kosdaq Composite Index and Genic Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Genic 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 Genic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Genic has no effect on the direction of Kosdaq Composite i.e., Kosdaq Composite and Genic go up and down completely randomly.
Pair Corralation between Kosdaq Composite and Genic
Assuming the 90 days trading horizon Kosdaq Composite is expected to generate 27.4 times less return on investment than Genic. But when comparing it to its historical volatility, Kosdaq Composite Index is 2.8 times less risky than Genic. It trades about 0.01 of its potential returns per unit of risk. Genic Co is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest 435,500 in Genic Co on September 20, 2024 and sell it today you would earn a total of 1,789,500 from holding Genic Co or generate 410.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.79% |
| Values | Daily Returns |
Kosdaq Composite Index vs. Genic Co
Performance |
| Timeline |
Kosdaq Composite and Genic Volatility Contrast
Predicted Return Density |
| Returns |
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
Genic Co
Pair trading matchups for Genic
Pair Trading with Kosdaq Composite and Genic
The main advantage of trading using opposite Kosdaq Composite and Genic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kosdaq Composite position performs unexpectedly, Genic 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 Genic will offset losses from the drop in Genic's long position.| Kosdaq Composite vs. Dongbu Insurance Co | Kosdaq Composite vs. Jin Air Co | Kosdaq Composite vs. Kbi Metal Co | Kosdaq Composite vs. BNK Financial Group |
| Genic vs. Digital Power Communications | Genic vs. Iljin Display | Genic vs. Inzi Display CoLtd | Genic vs. Display 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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
Other Complementary Tools
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges |