Correlation Between Kosdaq Composite and APro
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By analyzing existing cross correlation between Kosdaq Composite Index and APro Co, you can compare the effects of market volatilities on Kosdaq Composite and APro 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 APro. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kosdaq Composite and APro.
Diversification Opportunities for Kosdaq Composite and APro
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Kosdaq and APro is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Kosdaq Composite Index and APro Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on APro 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 APro. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of APro has no effect on the direction of Kosdaq Composite i.e., Kosdaq Composite and APro go up and down completely randomly.
Pair Corralation between Kosdaq Composite and APro
Assuming the 90 days trading horizon Kosdaq Composite Index is expected to generate 0.57 times more return on investment than APro. However, Kosdaq Composite Index is 1.76 times less risky than APro. It trades about -0.25 of its potential returns per unit of risk. APro Co is currently generating about -0.38 per unit of risk. If you would invest 74,306 in Kosdaq Composite Index on September 1, 2024 and sell it today you would lose (6,444) from holding Kosdaq Composite Index or give up 8.67% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 95.65% |
| Values | Daily Returns |
Kosdaq Composite Index vs. APro Co
Performance |
| Timeline |
Kosdaq Composite and APro Volatility Contrast
Predicted Return Density |
| Returns |
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
APro Co
Pair trading matchups for APro
Pair Trading with Kosdaq Composite and APro
The main advantage of trading using opposite Kosdaq Composite and APro positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kosdaq Composite position performs unexpectedly, APro 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 APro will offset losses from the drop in APro's long position.| Kosdaq Composite vs. Golden Bridge Investment | Kosdaq Composite vs. Lotte Data Communication | Kosdaq Composite vs. E Investment Development | Kosdaq Composite vs. Stic Investments |
| APro vs. Samlip General Foods | APro vs. Clean Science co | APro vs. Lake Materials Co | APro vs. Iljin Materials 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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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