Correlation Between Supercom and Kingsmen Creatives
Can any of the company-specific risk be diversified away by investing in both Supercom and Kingsmen Creatives 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 Supercom and Kingsmen Creatives into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Supercom and Kingsmen Creatives, you can compare the effects of market volatilities on Supercom and Kingsmen Creatives 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 Supercom with a short position of Kingsmen Creatives. Check out your portfolio center. Please also check ongoing floating volatility patterns of Supercom and Kingsmen Creatives.
Diversification Opportunities for Supercom and Kingsmen Creatives
-0.43 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Supercom and Kingsmen is -0.43. Overlapping area represents the amount of risk that can be diversified away by holding Supercom and Kingsmen Creatives in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kingsmen Creatives and Supercom 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 Supercom are associated (or correlated) with Kingsmen Creatives. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kingsmen Creatives has no effect on the direction of Supercom i.e., Supercom and Kingsmen Creatives go up and down completely randomly.
Pair Corralation between Supercom and Kingsmen Creatives
If you would invest 336.00 in Supercom on October 13, 2024 and sell it today you would earn a total of 638.00 from holding Supercom or generate 189.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.0% |
| Values | Daily Returns |
Supercom vs. Kingsmen Creatives
Performance |
| Timeline |
| Supercom |
| Kingsmen Creatives |
Supercom and Kingsmen Creatives Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Supercom and Kingsmen Creatives
The main advantage of trading using opposite Supercom and Kingsmen Creatives positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Supercom position performs unexpectedly, Kingsmen Creatives 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 Kingsmen Creatives will offset losses from the drop in Kingsmen Creatives' long position.| Supercom vs. Zedcor Inc | Supercom vs. SSC Security Services | Supercom vs. Blue Line Protection | Supercom vs. Guardforce AI Co |
| Kingsmen Creatives vs. The Cheesecake Factory | Kingsmen Creatives vs. First Watch Restaurant | Kingsmen Creatives vs. Dine Brands Global | Kingsmen Creatives vs. Cedar Realty Trust |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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