Correlation Between Samsung Electronics and Seeing Machines
Can any of the company-specific risk be diversified away by investing in both Samsung Electronics and Seeing Machines 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 Seeing Machines 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 Seeing Machines Limited, you can compare the effects of market volatilities on Samsung Electronics and Seeing Machines 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 Seeing Machines. Check out your portfolio center. Please also check ongoing floating volatility patterns of Samsung Electronics and Seeing Machines.
Diversification Opportunities for Samsung Electronics and Seeing Machines
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Samsung and Seeing is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Samsung Electronics Co and Seeing Machines Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Seeing Machines 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 Seeing Machines. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Seeing Machines has no effect on the direction of Samsung Electronics i.e., Samsung Electronics and Seeing Machines go up and down completely randomly.
Pair Corralation between Samsung Electronics and Seeing Machines
If you would invest (100.00) in Seeing Machines Limited on September 12, 2024 and sell it today you would earn a total of 100.00 from holding Seeing Machines Limited or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Samsung Electronics Co vs. Seeing Machines Limited
Performance |
| Timeline |
| Samsung Electronics |
| Seeing Machines |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Samsung Electronics and Seeing Machines Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Samsung Electronics and Seeing Machines
The main advantage of trading using opposite Samsung Electronics and Seeing Machines positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Samsung Electronics position performs unexpectedly, Seeing Machines 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 Seeing Machines will offset losses from the drop in Seeing Machines' long position.| Samsung Electronics vs. Norwegian Air Shuttle | Samsung Electronics vs. GreenX Metals | Samsung Electronics vs. AMG Advanced Metallurgical | Samsung Electronics vs. Gaztransport et Technigaz |
| Seeing Machines vs. Ameriprise Financial | Seeing Machines vs. Sabre Insurance Group | Seeing Machines vs. Synchrony Financial | Seeing Machines vs. GreenX Metals |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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