Correlation Between Samsung Electronics and Mango Capital
Can any of the company-specific risk be diversified away by investing in both Samsung Electronics and Mango Capital 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 Mango Capital 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 Mango Capital, you can compare the effects of market volatilities on Samsung Electronics and Mango Capital 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 Mango Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of Samsung Electronics and Mango Capital.
Diversification Opportunities for Samsung Electronics and Mango Capital
-0.74 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Samsung and Mango is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding Samsung Electronics Co and Mango Capital in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mango Capital 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 Mango Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mango Capital has no effect on the direction of Samsung Electronics i.e., Samsung Electronics and Mango Capital go up and down completely randomly.
Pair Corralation between Samsung Electronics and Mango Capital
If you would invest 472.00 in Mango Capital on November 29, 2024 and sell it today you would earn a total of 53.00 from holding Mango Capital or generate 11.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.45% |
| Values | Daily Returns |
Samsung Electronics Co vs. Mango Capital
Performance |
| Timeline |
| Samsung Electronics |
| Mango Capital |
Samsung Electronics and Mango Capital Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Samsung Electronics and Mango Capital
The main advantage of trading using opposite Samsung Electronics and Mango Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Samsung Electronics position performs unexpectedly, Mango Capital 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 Mango Capital will offset losses from the drop in Mango Capital's long position.| Samsung Electronics vs. Pfizer Inc | Samsung Electronics vs. American Express | Samsung Electronics vs. Alcoa Corp | Samsung Electronics vs. Cisco Systems |
| Mango Capital vs. Shopify | Mango Capital vs. Docebo Inc | Mango Capital vs. Unity Software | Mango Capital vs. Fastly Inc |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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