Correlation Between Samsung Electronics and Casino Guichard
Can any of the company-specific risk be diversified away by investing in both Samsung Electronics and Casino Guichard 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 Casino Guichard 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 Casino Guichard Perrachon Socit, you can compare the effects of market volatilities on Samsung Electronics and Casino Guichard 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 Casino Guichard. Check out your portfolio center. Please also check ongoing floating volatility patterns of Samsung Electronics and Casino Guichard.
Diversification Opportunities for Samsung Electronics and Casino Guichard
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Samsung and Casino is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Samsung Electronics Co and Casino Guichard Perrachon Soci in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Casino Guichard Perr 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 Casino Guichard. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Casino Guichard Perr has no effect on the direction of Samsung Electronics i.e., Samsung Electronics and Casino Guichard go up and down completely randomly.
Pair Corralation between Samsung Electronics and Casino Guichard
If you would invest (100.00) in Casino Guichard Perrachon Socit on December 29, 2024 and sell it today you would earn a total of 100.00 from holding Casino Guichard Perrachon Socit or generate -100.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
Samsung Electronics Co vs. Casino Guichard Perrachon Soci
Performance |
Timeline |
Samsung Electronics |
Casino Guichard Perr |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Samsung Electronics and Casino Guichard Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Samsung Electronics and Casino Guichard
The main advantage of trading using opposite Samsung Electronics and Casino Guichard positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Samsung Electronics position performs unexpectedly, Casino Guichard 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 Casino Guichard will offset losses from the drop in Casino Guichard's long position.Samsung Electronics vs. Universal Electronics | Samsung Electronics vs. VOXX International | Samsung Electronics vs. Sony Group Corp | Samsung Electronics vs. TCL Electronics Holdings |
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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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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