Correlation Between Kosdaq Composite and V One
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By analyzing existing cross correlation between Kosdaq Composite Index and V One Tech Co, you can compare the effects of market volatilities on Kosdaq Composite and V One 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 V One. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kosdaq Composite and V One.
Diversification Opportunities for Kosdaq Composite and V One
0.83 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Kosdaq and 251630 is 0.83. Overlapping area represents the amount of risk that can be diversified away by holding Kosdaq Composite Index and V One Tech Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on V One Tech 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 V One. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of V One Tech has no effect on the direction of Kosdaq Composite i.e., Kosdaq Composite and V One go up and down completely randomly.
Pair Corralation between Kosdaq Composite and V One
Assuming the 90 days trading horizon Kosdaq Composite Index is expected to generate 0.48 times more return on investment than V One. However, Kosdaq Composite Index is 2.09 times less risky than V One. It trades about 0.0 of its potential returns per unit of risk. V One Tech Co is currently generating about -0.02 per unit of risk. If you would invest 70,121 in Kosdaq Composite Index on September 30, 2024 and sell it today you would lose (3,524) from holding Kosdaq Composite Index or give up 5.03% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kosdaq Composite Index vs. V One Tech Co
Performance |
| Timeline |
Kosdaq Composite and V One Volatility Contrast
Predicted Return Density |
| Returns |
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
V One Tech Co
Pair trading matchups for V One
Pair Trading with Kosdaq Composite and V One
The main advantage of trading using opposite Kosdaq Composite and V One positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kosdaq Composite position performs unexpectedly, V One 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 V One will offset losses from the drop in V One's long position.| Kosdaq Composite vs. Formetal Co | Kosdaq Composite vs. Eagon Industrial Co | Kosdaq Composite vs. PJ Metal Co | Kosdaq Composite vs. Songwon Industrial Co |
| V One vs. Samsung Electronics Co | V One vs. Samsung Electronics Co | V One vs. LG Energy Solution | V One 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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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