Correlation Between Kosdaq Composite and Helixmith
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By analyzing existing cross correlation between Kosdaq Composite Index and Helixmith Co, you can compare the effects of market volatilities on Kosdaq Composite and Helixmith 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 Kosdaq Composite with a short position of Helixmith. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kosdaq Composite and Helixmith.
Diversification Opportunities for Kosdaq Composite and Helixmith
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kosdaq and Helixmith is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Kosdaq Composite Index and Helixmith Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Helixmith and Kosdaq Composite 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 Kosdaq Composite Index are associated (or correlated) with Helixmith. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Helixmith has no effect on the direction of Kosdaq Composite i.e., Kosdaq Composite and Helixmith go up and down completely randomly.
Pair Corralation between Kosdaq Composite and Helixmith
Assuming the 90 days trading horizon Kosdaq Composite Index is expected to under-perform the Helixmith. But the index apears to be less risky and, when comparing its historical volatility, Kosdaq Composite Index is 1.76 times less risky than Helixmith. The index trades about -0.17 of its potential returns per unit of risk. The Helixmith Co is currently generating about -0.09 of returns per unit of risk over similar time horizon. If you would invest 449,500 in Helixmith Co on January 30, 2024 and sell it today you would lose (21,500) from holding Helixmith Co or give up 4.78% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Kosdaq Composite Index vs. Helixmith Co
Performance |
Timeline |
Kosdaq Composite and Helixmith Volatility Contrast
Predicted Return Density |
Returns |
Kosdaq Composite Index
Pair trading matchups for Kosdaq Composite
Helixmith Co
Pair trading matchups for Helixmith
Pair Trading with Kosdaq Composite and Helixmith
The main advantage of trading using opposite Kosdaq Composite and Helixmith positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kosdaq Composite position performs unexpectedly, Helixmith 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 Helixmith will offset losses from the drop in Helixmith's long position.Kosdaq Composite vs. ENERGYMACHINERY KOREA CoLtd | Kosdaq Composite vs. TJ media Co | Kosdaq Composite vs. Kyeryong Construction Industrial | Kosdaq Composite vs. Seoam Machinery Industry |
Helixmith vs. Samsung Electronics Co | Helixmith vs. Samsung Electronics Co | Helixmith vs. Naver | Helixmith vs. SK Hynix |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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