Correlation Between Samsung Electronics and THC Biomed

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Can any of the company-specific risk be diversified away by investing in both Samsung Electronics and THC Biomed 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 THC Biomed 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 THC Biomed Intl, you can compare the effects of market volatilities on Samsung Electronics and THC Biomed 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 THC Biomed. Check out your portfolio center. Please also check ongoing floating volatility patterns of Samsung Electronics and THC Biomed.

Diversification Opportunities for Samsung Electronics and THC Biomed

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between Samsung and THC is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Samsung Electronics Co and THC Biomed Intl in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on THC Biomed Intl 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 THC Biomed. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of THC Biomed Intl has no effect on the direction of Samsung Electronics i.e., Samsung Electronics and THC Biomed go up and down completely randomly.

Pair Corralation between Samsung Electronics and THC Biomed

If you would invest  0.10  in THC Biomed Intl on November 27, 2024 and sell it today you would earn a total of  0.00  from holding THC Biomed Intl or generate 0.0% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy95.24%
ValuesDaily Returns

Samsung Electronics Co  vs.  THC Biomed Intl

 Performance 
       Timeline  
Samsung Electronics 

Risk-Adjusted Performance

OK

 
Weak
 
Strong
Compared to the overall equity markets, risk-adjusted returns on investments in Samsung Electronics Co are ranked lower than 10 (%) of all global equities and portfolios over the last 90 days. Despite nearly stable essential indicators, Samsung Electronics is not utilizing all of its potentials. The latest stock price disturbance, may contribute to mid-run losses for the stockholders.
THC Biomed Intl 

Risk-Adjusted Performance

Very Weak

 
Weak
 
Strong
Over the last 90 days THC Biomed Intl has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental drivers, THC Biomed is not utilizing all of its potentials. The current stock price disturbance, may contribute to mid-run losses for the stockholders.

Samsung Electronics and THC Biomed Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with Samsung Electronics and THC Biomed

The main advantage of trading using opposite Samsung Electronics and THC Biomed positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Samsung Electronics position performs unexpectedly, THC Biomed 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 THC Biomed will offset losses from the drop in THC Biomed's long position.
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The idea behind Samsung Electronics Co and THC Biomed Intl pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.

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