Correlation Between Samsung Electronics and Compaa Minera
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By analyzing existing cross correlation between Samsung Electronics Co and Compaa Minera Autln, you can compare the effects of market volatilities on Samsung Electronics and Compaa Minera 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 Compaa Minera. Check out your portfolio center. Please also check ongoing floating volatility patterns of Samsung Electronics and Compaa Minera.
Diversification Opportunities for Samsung Electronics and Compaa Minera
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Samsung and Compaa is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding Samsung Electronics Co and Compaa Minera Autln in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Compaa Minera Autln 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 Compaa Minera. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Compaa Minera Autln has no effect on the direction of Samsung Electronics i.e., Samsung Electronics and Compaa Minera go up and down completely randomly.
Pair Corralation between Samsung Electronics and Compaa Minera
Assuming the 90 days trading horizon Samsung Electronics Co is expected to generate 0.99 times more return on investment than Compaa Minera. However, Samsung Electronics Co is 1.01 times less risky than Compaa Minera. It trades about 0.0 of its potential returns per unit of risk. Compaa Minera Autln is currently generating about -0.03 per unit of risk. If you would invest 2,079,534 in Samsung Electronics Co on August 29, 2024 and sell it today you would lose (87,028) from holding Samsung Electronics Co or give up 4.18% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Samsung Electronics Co vs. Compaa Minera Autln
Performance |
| Timeline |
| Samsung Electronics |
| Compaa Minera Autln |
Samsung Electronics and Compaa Minera Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Samsung Electronics and Compaa Minera
The main advantage of trading using opposite Samsung Electronics and Compaa Minera positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Samsung Electronics position performs unexpectedly, Compaa Minera 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 Compaa Minera will offset losses from the drop in Compaa Minera's long position.| Samsung Electronics vs. UnitedHealth Group Incorporated | Samsung Electronics vs. Martin Marietta Materials | Samsung Electronics vs. United Airlines Holdings | Samsung Electronics vs. DXC Technology |
| Compaa Minera vs. Enphase Energy, | Compaa Minera vs. The Home Depot | Compaa Minera vs. The Select Sector | Compaa Minera vs. Promotora y Operadora |
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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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