Correlation Between KTBST Mixed and KT Medical
Specify exactly 2 symbols:
By analyzing existing cross correlation between KTBST Mixed Leasehold and KT Medical Service, you can compare the effects of market volatilities on KTBST Mixed and KT Medical 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 KTBST Mixed with a short position of KT Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of KTBST Mixed and KT Medical.
Diversification Opportunities for KTBST Mixed and KT Medical
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between KTBST and KTMS is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding KTBST Mixed Leasehold and KT Medical Service in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KT Medical Service and KTBST Mixed 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 KTBST Mixed Leasehold are associated (or correlated) with KT Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KT Medical Service has no effect on the direction of KTBST Mixed i.e., KTBST Mixed and KT Medical go up and down completely randomly.
Pair Corralation between KTBST Mixed and KT Medical
Assuming the 90 days trading horizon KTBST Mixed Leasehold is expected to generate 0.48 times more return on investment than KT Medical. However, KTBST Mixed Leasehold is 2.1 times less risky than KT Medical. It trades about 0.07 of its potential returns per unit of risk. KT Medical Service is currently generating about -0.02 per unit of risk. If you would invest 538.00 in KTBST Mixed Leasehold on September 1, 2024 and sell it today you would earn a total of 112.00 from holding KTBST Mixed Leasehold or generate 20.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.62% |
| Values | Daily Returns |
KTBST Mixed Leasehold vs. KT Medical Service
Performance |
| Timeline |
| KTBST Mixed Leasehold |
| KT Medical Service |
KTBST Mixed and KT Medical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KTBST Mixed and KT Medical
The main advantage of trading using opposite KTBST Mixed and KT Medical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KTBST Mixed position performs unexpectedly, KT Medical 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 KT Medical will offset losses from the drop in KT Medical's long position.| KTBST Mixed vs. Ticon Freehold and | KTBST Mixed vs. CPN Retail Growth | KTBST Mixed vs. Golden Ventures Leasehold | KTBST Mixed vs. Impact Growth REIT |
| KT Medical vs. DTC Enterprise PCL | KT Medical vs. Yong Concrete PCL | KT Medical vs. Make To Win | KT Medical vs. Aurora Design PCL |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
Other Complementary Tools
| Transaction History View history of all your transactions and understand their impact on performance | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Watchlist Optimization Optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm | |
| Equity Valuation Check real value of public entities based on technical and fundamental data |