Correlation Between Unifin Financiera and Samsung Electronics
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By analyzing existing cross correlation between Unifin Financiera S and Samsung Electronics Co, you can compare the effects of market volatilities on Unifin Financiera and Samsung Electronics 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 Unifin Financiera with a short position of Samsung Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Unifin Financiera and Samsung Electronics.
Diversification Opportunities for Unifin Financiera and Samsung Electronics
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Unifin and Samsung is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Unifin Financiera S and Samsung Electronics Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Samsung Electronics and Unifin Financiera 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 Unifin Financiera S are associated (or correlated) with Samsung Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Samsung Electronics has no effect on the direction of Unifin Financiera i.e., Unifin Financiera and Samsung Electronics go up and down completely randomly.
Pair Corralation between Unifin Financiera and Samsung Electronics
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 |
Unifin Financiera S vs. Samsung Electronics Co
Performance |
| Timeline |
| Unifin Financiera |
| Samsung Electronics |
Unifin Financiera and Samsung Electronics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Unifin Financiera and Samsung Electronics
The main advantage of trading using opposite Unifin Financiera and Samsung Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Unifin Financiera position performs unexpectedly, Samsung Electronics 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 Samsung Electronics will offset losses from the drop in Samsung Electronics' long position.| Unifin Financiera vs. Grupo Sports World | Unifin Financiera vs. Southwest Airlines | Unifin Financiera vs. Taiwan Semiconductor Manufacturing | Unifin Financiera vs. Delta Air Lines |
| Samsung Electronics vs. Hoteles City Express | Samsung Electronics vs. United States Steel | Samsung Electronics vs. Grupo Sports World | Samsung Electronics vs. Monster Beverage 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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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