Correlation Between Kosdaq Composite and Cube Entertainment
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By analyzing existing cross correlation between Kosdaq Composite Index and Cube Entertainment, you can compare the effects of market volatilities on Kosdaq Composite and Cube Entertainment 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 Cube Entertainment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kosdaq Composite and Cube Entertainment.
Diversification Opportunities for Kosdaq Composite and Cube Entertainment
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Kosdaq and Cube is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding Kosdaq Composite Index and Cube Entertainment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cube Entertainment 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 Cube Entertainment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cube Entertainment has no effect on the direction of Kosdaq Composite i.e., Kosdaq Composite and Cube Entertainment go up and down completely randomly.
Pair Corralation between Kosdaq Composite and Cube Entertainment
Assuming the 90 days trading horizon Kosdaq Composite Index is expected to generate 0.43 times more return on investment than Cube Entertainment. However, Kosdaq Composite Index is 2.34 times less risky than Cube Entertainment. It trades about 0.0 of its potential returns per unit of risk. Cube Entertainment is currently generating about 0.0 per unit of risk. If you would invest 71,252 in Kosdaq Composite Index on August 29, 2024 and sell it today you would lose (2,039) from holding Kosdaq Composite Index or give up 2.86% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 99.79% |
| Values | Daily Returns |
Kosdaq Composite Index vs. Cube Entertainment
Performance |
| Timeline |
Kosdaq Composite and Cube Entertainment Volatility Contrast
Predicted Return Density |
| Returns |
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
Cube Entertainment
Pair trading matchups for Cube Entertainment
Pair Trading with Kosdaq Composite and Cube Entertainment
The main advantage of trading using opposite Kosdaq Composite and Cube Entertainment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kosdaq Composite position performs unexpectedly, Cube Entertainment 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 Cube Entertainment will offset losses from the drop in Cube Entertainment's long position.| Kosdaq Composite vs. Shinil Electronics Co | Kosdaq Composite vs. Sungdo Engineering Construction | Kosdaq Composite vs. Seoul Electronics Telecom | Kosdaq Composite vs. ENERGYMACHINERY KOREA CoLtd |
| Cube Entertainment vs. Samsung Electronics Co | Cube Entertainment vs. Samsung Electronics Co | Cube Entertainment vs. LG Energy Solution | Cube Entertainment vs. SK Hynix |
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 Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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