Correlation Between Kosdaq Composite and ATON
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By analyzing existing cross correlation between Kosdaq Composite Index and ATON Inc, you can compare the effects of market volatilities on Kosdaq Composite and ATON 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 ATON. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kosdaq Composite and ATON.
Diversification Opportunities for Kosdaq Composite and ATON
-0.64 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Kosdaq and ATON is -0.64. Overlapping area represents the amount of risk that can be diversified away by holding Kosdaq Composite Index and ATON Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ATON Inc 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 ATON. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ATON Inc has no effect on the direction of Kosdaq Composite i.e., Kosdaq Composite and ATON go up and down completely randomly.
Pair Corralation between Kosdaq Composite and ATON
Assuming the 90 days trading horizon Kosdaq Composite Index is expected to under-perform the ATON. But the index apears to be less risky and, when comparing its historical volatility, Kosdaq Composite Index is 4.98 times less risky than ATON. The index trades about -0.19 of its potential returns per unit of risk. The ATON Inc is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest 399,500 in ATON Inc on August 29, 2024 and sell it today you would earn a total of 172,500 from holding ATON Inc or generate 43.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kosdaq Composite Index vs. ATON Inc
Performance |
| Timeline |
Kosdaq Composite and ATON Volatility Contrast
Predicted Return Density |
| Returns |
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
ATON Inc
Pair trading matchups for ATON
Pair Trading with Kosdaq Composite and ATON
The main advantage of trading using opposite Kosdaq Composite and ATON positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kosdaq Composite position performs unexpectedly, ATON 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 ATON will offset losses from the drop in ATON's long position.| Kosdaq Composite vs. Korea Air Svc | Kosdaq Composite vs. Mobileleader CoLtd | Kosdaq Composite vs. Ssangyong Information Communication | Kosdaq Composite vs. TOPMATERIAL LTD |
| ATON vs. Daelim Trading Co | ATON vs. LB Investment | ATON vs. Samick Musical Instruments | ATON vs. Dongwon Metal 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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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