Correlation Between WOORI FIN and Quebecor

Can any of the company-specific risk be diversified away by investing in both WOORI FIN and Quebecor 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 WOORI FIN and Quebecor into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between WOORI FIN GRP and Quebecor, you can compare the effects of market volatilities on WOORI FIN and Quebecor 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 WOORI FIN with a short position of Quebecor. Check out your portfolio center. Please also check ongoing floating volatility patterns of WOORI FIN and Quebecor.

Diversification Opportunities for WOORI FIN and Quebecor

0.72

Correlation Coefficient

WOORI FIN  Quebecor

Poor diversification

The 3 months correlation between WOORI and Quebecor is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding WOORI FIN GRP and Quebecor in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Quebecor and WOORI FIN 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 WOORI FIN GRP are associated (or correlated) with Quebecor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Quebecor has no effect on the direction of WOORI FIN i.e., WOORI FIN and Quebecor go up and down completely randomly.

Pair Corralation between WOORI FIN and Quebecor

Assuming the 90 days trading horizon WOORI FIN GRP is expected to generate 3.77 times more return on investment than Quebecor. However, WOORI FIN is 3.77 times more volatile than Quebecor. It trades about 0.2 of its potential returns per unit of risk. Quebecor is currently generating about 0.14 per unit of risk. If you would invest  2,984  in WOORI FIN GRP on April 24, 2025 and sell it today you would earn a total of  1,536  from holding WOORI FIN GRP or generate 51.47% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Significant
Accuracy	100.0%
Values	Daily Returns

WOORI FIN GRP  vs.  Quebecor

WOORI FIN GRP

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in WOORI FIN GRP are ranked lower than 15 (%) of all global equities and portfolios over the last 90 days. Despite nearly unfluctuating technical and fundamental indicators, WOORI FIN reported solid returns over the last few months and may actually be approaching a breakup point.

Quebecor

Risk-Adjusted Performance

OK

Compared to the overall equity markets, risk-adjusted returns on investments in Quebecor are ranked lower than 11 (%) of all global equities and portfolios over the last 90 days. Despite nearly fragile basic indicators, Quebecor may actually be approaching a critical reversion point that can send shares even higher in August 2025.

Pair Trading with WOORI FIN and Quebecor

The main advantage of trading using opposite WOORI FIN and Quebecor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WOORI FIN position performs unexpectedly, Quebecor 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 Quebecor will offset losses from the drop in Quebecor's long position.

The idea behind WOORI FIN GRP and Quebecor 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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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.