Correlation Between Samsung Electronics and Unifin Financiera
Specify exactly 2 symbols:
By analyzing existing cross correlation between Samsung Electronics Co and Unifin Financiera S, you can compare the effects of market volatilities on Samsung Electronics and Unifin Financiera 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 Unifin Financiera. Check out your portfolio center. Please also check ongoing floating volatility patterns of Samsung Electronics and Unifin Financiera.
Diversification Opportunities for Samsung Electronics and Unifin Financiera
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Samsung and Unifin is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Samsung Electronics Co and Unifin Financiera S in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Unifin Financiera 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 Unifin Financiera. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Unifin Financiera has no effect on the direction of Samsung Electronics i.e., Samsung Electronics and Unifin Financiera go up and down completely randomly.
Pair Corralation between Samsung Electronics and Unifin Financiera
If you would invest 1,200 in Unifin Financiera S on September 12, 2024 and sell it today you would earn a total of 0.00 from holding Unifin Financiera S or generate 0.0% 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. Unifin Financiera S
Performance |
| Timeline |
| Samsung Electronics |
| Unifin Financiera |
Samsung Electronics and Unifin Financiera Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Samsung Electronics and Unifin Financiera
The main advantage of trading using opposite Samsung Electronics and Unifin Financiera positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Samsung Electronics position performs unexpectedly, Unifin Financiera 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 Unifin Financiera will offset losses from the drop in Unifin Financiera's long position.| Samsung Electronics vs. Hoteles City Express | Samsung Electronics vs. United States Steel | Samsung Electronics vs. Grupo Sports World | Samsung Electronics vs. Monster Beverage Corp |
| Unifin Financiera vs. Grupo Sports World | Unifin Financiera vs. Southwest Airlines | Unifin Financiera vs. Taiwan Semiconductor Manufacturing | Unifin Financiera vs. Delta Air Lines |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
Other Complementary Tools
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets |