Correlation Between Kosdaq Composite and DoubleU Games
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By analyzing existing cross correlation between Kosdaq Composite Index and DoubleU Games Co, you can compare the effects of market volatilities on Kosdaq Composite and DoubleU Games 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 DoubleU Games. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kosdaq Composite and DoubleU Games.
Diversification Opportunities for Kosdaq Composite and DoubleU Games
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Kosdaq and DoubleU is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Kosdaq Composite Index and DoubleU Games Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DoubleU Games 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 DoubleU Games. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DoubleU Games has no effect on the direction of Kosdaq Composite i.e., Kosdaq Composite and DoubleU Games go up and down completely randomly.
Pair Corralation between Kosdaq Composite and DoubleU Games
Assuming the 90 days trading horizon Kosdaq Composite Index is expected to under-perform the DoubleU Games. But the index apears to be less risky and, when comparing its historical volatility, Kosdaq Composite Index is 1.28 times less risky than DoubleU Games. The index trades about -0.22 of its potential returns per unit of risk. The DoubleU Games Co is currently generating about -0.09 of returns per unit of risk over similar time horizon. If you would invest 5,210,000 in DoubleU Games Co on August 31, 2024 and sell it today you would lose (220,000) from holding DoubleU Games Co or give up 4.22% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.65% |
| Values | Daily Returns |
Kosdaq Composite Index vs. DoubleU Games Co
Performance |
| Timeline |
Kosdaq Composite and DoubleU Games Volatility Contrast
Predicted Return Density |
| Returns |
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
DoubleU Games Co
Pair trading matchups for DoubleU Games
Pair Trading with Kosdaq Composite and DoubleU Games
The main advantage of trading using opposite Kosdaq Composite and DoubleU Games positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kosdaq Composite position performs unexpectedly, DoubleU Games 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 DoubleU Games will offset losses from the drop in DoubleU Games' long position.| Kosdaq Composite vs. LG Chemicals | Kosdaq Composite vs. Sempio Foods Co | Kosdaq Composite vs. SK Chemicals Co | Kosdaq Composite vs. Korea Shipbuilding Offshore |
| DoubleU Games vs. DONGKUK TED METAL | DoubleU Games vs. Namhwa Industrial Co | DoubleU Games vs. Hyunwoo Industrial Co | DoubleU Games vs. Cheryong Industrial CoLtd |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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