Correlation Between Samsung Electronics and Appgate
Can any of the company-specific risk be diversified away by investing in both Samsung Electronics and Appgate 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 Appgate 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 Appgate, you can compare the effects of market volatilities on Samsung Electronics and Appgate 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 Appgate. Check out your portfolio center. Please also check ongoing floating volatility patterns of Samsung Electronics and Appgate.
Diversification Opportunities for Samsung Electronics and Appgate
-0.87 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Samsung and Appgate is -0.87. Overlapping area represents the amount of risk that can be diversified away by holding Samsung Electronics Co and Appgate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Appgate 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 Appgate. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Appgate has no effect on the direction of Samsung Electronics i.e., Samsung Electronics and Appgate go up and down completely randomly.
Pair Corralation between Samsung Electronics and Appgate
If you would invest 4,033 in Samsung Electronics Co on August 25, 2024 and sell it today you would earn a total of 27.00 from holding Samsung Electronics Co or generate 0.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 2.22% |
| Values | Daily Returns |
Samsung Electronics Co vs. Appgate
Performance |
| Timeline |
| Samsung Electronics |
| Appgate |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Samsung Electronics and Appgate Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Samsung Electronics and Appgate
The main advantage of trading using opposite Samsung Electronics and Appgate positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Samsung Electronics position performs unexpectedly, Appgate 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 Appgate will offset losses from the drop in Appgate's long position.| Samsung Electronics vs. Copa Holdings SA | Samsung Electronics vs. United Airlines Holdings | Samsung Electronics vs. Delta Air Lines | Samsung Electronics vs. SkyWest |
| Appgate vs. Tingo Inc | Appgate vs. Palo Alto Networks | Appgate vs. Palantir Technologies | Appgate vs. Arax Holdings Corp |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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