Correlation Between UJU Electronics and Cuckoo Electronics
Can any of the company-specific risk be diversified away by investing in both UJU Electronics and Cuckoo Electronics 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 UJU Electronics and Cuckoo Electronics into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between UJU Electronics Co and Cuckoo Electronics Co, you can compare the effects of market volatilities on UJU Electronics and Cuckoo 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 UJU Electronics with a short position of Cuckoo Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of UJU Electronics and Cuckoo Electronics.
Diversification Opportunities for UJU Electronics and Cuckoo Electronics
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between UJU and Cuckoo is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding UJU Electronics Co and Cuckoo Electronics Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cuckoo Electronics and UJU 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 UJU Electronics Co are associated (or correlated) with Cuckoo Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cuckoo Electronics has no effect on the direction of UJU Electronics i.e., UJU Electronics and Cuckoo Electronics go up and down completely randomly.
Pair Corralation between UJU Electronics and Cuckoo Electronics
Assuming the 90 days trading horizon UJU Electronics Co is expected to generate 1.55 times more return on investment than Cuckoo Electronics. However, UJU Electronics is 1.55 times more volatile than Cuckoo Electronics Co. It trades about 0.0 of its potential returns per unit of risk. Cuckoo Electronics Co is currently generating about -0.06 per unit of risk. If you would invest 4,210,000 in UJU Electronics Co on August 14, 2025 and sell it today you would lose (150,000) from holding UJU Electronics Co or give up 3.56% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
UJU Electronics Co vs. Cuckoo Electronics Co
Performance |
| Timeline |
| UJU Electronics |
| Cuckoo Electronics |
UJU Electronics and Cuckoo Electronics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with UJU Electronics and Cuckoo Electronics
The main advantage of trading using opposite UJU Electronics and Cuckoo Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if UJU Electronics position performs unexpectedly, Cuckoo 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 Cuckoo Electronics will offset losses from the drop in Cuckoo Electronics' long position.| UJU Electronics vs. Daou Data Corp | UJU Electronics vs. EBEST Investment Securities | UJU Electronics vs. Busan Industrial Co | UJU Electronics vs. Mirae Asset Daewoo |
| Cuckoo Electronics vs. KB Financial Group | Cuckoo Electronics vs. Shinhan Financial Group | Cuckoo Electronics vs. Hana Financial | Cuckoo Electronics vs. Woori Financial Group |
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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