Correlation Between Samsung Electronics and Moneta Money
Can any of the company-specific risk be diversified away by investing in both Samsung Electronics and Moneta Money at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Samsung Electronics and Moneta Money into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Samsung Electronics Co and Moneta Money Bank, you can compare the effects of market volatilities on Samsung Electronics and Moneta Money 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 Samsung Electronics with a short position of Moneta Money. Check out your portfolio center. Please also check ongoing floating volatility patterns of Samsung Electronics and Moneta Money.
Diversification Opportunities for Samsung Electronics and Moneta Money
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Samsung and Moneta is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Samsung Electronics Co and Moneta Money Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Moneta Money Bank and Samsung Electronics 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 Samsung Electronics Co are associated (or correlated) with Moneta Money. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Moneta Money Bank has no effect on the direction of Samsung Electronics i.e., Samsung Electronics and Moneta Money go up and down completely randomly.
Pair Corralation between Samsung Electronics and Moneta Money
Assuming the 90 days trading horizon Samsung Electronics Co is expected to under-perform the Moneta Money. In addition to that, Samsung Electronics is 298.25 times more volatile than Moneta Money Bank. It trades about -0.03 of its total potential returns per unit of risk. Moneta Money Bank is currently generating about 0.07 per unit of volatility. If you would invest 8,233 in Moneta Money Bank on December 13, 2024 and sell it today you would earn a total of 12.00 from holding Moneta Money Bank or generate 0.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Samsung Electronics Co vs. Moneta Money Bank
Performance |
| Timeline |
| Samsung Electronics |
| Moneta Money Bank |
Samsung Electronics and Moneta Money Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Samsung Electronics and Moneta Money
The main advantage of trading using opposite Samsung Electronics and Moneta Money positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Samsung Electronics position performs unexpectedly, Moneta Money 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 Moneta Money will offset losses from the drop in Moneta Money's long position.| Samsung Electronics vs. LPKF Laser Electronics | ||
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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 Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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