Correlation Between Kosdaq Composite and Aptamer Sciences
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By analyzing existing cross correlation between Kosdaq Composite Index and Aptamer Sciences, you can compare the effects of market volatilities on Kosdaq Composite and Aptamer Sciences 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 Aptamer Sciences. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kosdaq Composite and Aptamer Sciences.
Diversification Opportunities for Kosdaq Composite and Aptamer Sciences
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Kosdaq and Aptamer is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Kosdaq Composite Index and Aptamer Sciences in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aptamer Sciences 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 Aptamer Sciences. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aptamer Sciences has no effect on the direction of Kosdaq Composite i.e., Kosdaq Composite and Aptamer Sciences go up and down completely randomly.
Pair Corralation between Kosdaq Composite and Aptamer Sciences
Assuming the 90 days trading horizon Kosdaq Composite Index is expected to generate 0.19 times more return on investment than Aptamer Sciences. However, Kosdaq Composite Index is 5.28 times less risky than Aptamer Sciences. It trades about -0.21 of its potential returns per unit of risk. Aptamer Sciences is currently generating about -0.07 per unit of risk. If you would invest 72,741 in Kosdaq Composite Index on August 26, 2024 and sell it today you would lose (4,986) from holding Kosdaq Composite Index or give up 6.85% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kosdaq Composite Index vs. Aptamer Sciences
Performance |
| Timeline |
Kosdaq Composite and Aptamer Sciences Volatility Contrast
Predicted Return Density |
| Returns |
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
Aptamer Sciences
Pair trading matchups for Aptamer Sciences
Pair Trading with Kosdaq Composite and Aptamer Sciences
The main advantage of trading using opposite Kosdaq Composite and Aptamer Sciences positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kosdaq Composite position performs unexpectedly, Aptamer Sciences 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 Aptamer Sciences will offset losses from the drop in Aptamer Sciences' long position.| Kosdaq Composite vs. Kbi Metal Co | Kosdaq Composite vs. Shinsung Delta Tech | Kosdaq Composite vs. Woori Technology | Kosdaq Composite vs. Dongil Metal Co |
| Aptamer Sciences vs. Samsung Electronics Co | Aptamer Sciences vs. Samsung Electronics Co | Aptamer Sciences vs. LG Energy Solution | Aptamer Sciences 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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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