Correlation Between Samsung Electronics and Grupo Carso
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By analyzing existing cross correlation between Samsung Electronics Co and Grupo Carso SAB, you can compare the effects of market volatilities on Samsung Electronics and Grupo Carso 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 Grupo Carso. Check out your portfolio center. Please also check ongoing floating volatility patterns of Samsung Electronics and Grupo Carso.
Diversification Opportunities for Samsung Electronics and Grupo Carso
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Samsung and Grupo is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Samsung Electronics Co and Grupo Carso SAB in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grupo Carso SAB 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 Grupo Carso. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grupo Carso SAB has no effect on the direction of Samsung Electronics i.e., Samsung Electronics and Grupo Carso go up and down completely randomly.
Pair Corralation between Samsung Electronics and Grupo Carso
Assuming the 90 days trading horizon Samsung Electronics is expected to generate 13.22 times less return on investment than Grupo Carso. But when comparing it to its historical volatility, Samsung Electronics Co is 1.14 times less risky than Grupo Carso. It trades about 0.0 of its potential returns per unit of risk. Grupo Carso SAB is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 8,136 in Grupo Carso SAB on August 25, 2024 and sell it today you would earn a total of 3,798 from holding Grupo Carso SAB or generate 46.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.8% |
| Values | Daily Returns |
Samsung Electronics Co vs. Grupo Carso SAB
Performance |
| Timeline |
| Samsung Electronics |
| Grupo Carso SAB |
Samsung Electronics and Grupo Carso Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Samsung Electronics and Grupo Carso
The main advantage of trading using opposite Samsung Electronics and Grupo Carso positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Samsung Electronics position performs unexpectedly, Grupo Carso 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 Grupo Carso will offset losses from the drop in Grupo Carso's long position.| Samsung Electronics vs. Monster Beverage Corp | Samsung Electronics vs. DXC Technology | Samsung Electronics vs. Deutsche Bank Aktiengesellschaft | Samsung Electronics vs. Cognizant Technology Solutions |
| Grupo Carso vs. Grupo Financiero Inbursa | Grupo Carso vs. Kimberly Clark de Mxico | Grupo Carso vs. Grupo Televisa SAB | Grupo Carso vs. Grupo Bimbo SAB |
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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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