Correlation Between Duksan Hi and UJU Electronics
Can any of the company-specific risk be diversified away by investing in both Duksan Hi and UJU 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 Duksan Hi and UJU Electronics into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Duksan Hi Metal and UJU Electronics Co, you can compare the effects of market volatilities on Duksan Hi and UJU 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 Duksan Hi with a short position of UJU Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Duksan Hi and UJU Electronics.
Diversification Opportunities for Duksan Hi and UJU Electronics
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between Duksan and UJU is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding Duksan Hi Metal and UJU Electronics Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UJU Electronics and Duksan Hi 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 Duksan Hi Metal are associated (or correlated) with UJU Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UJU Electronics has no effect on the direction of Duksan Hi i.e., Duksan Hi and UJU Electronics go up and down completely randomly.
Pair Corralation between Duksan Hi and UJU Electronics
Assuming the 90 days trading horizon Duksan Hi Metal is expected to generate 1.46 times more return on investment than UJU Electronics. However, Duksan Hi is 1.46 times more volatile than UJU Electronics Co. It trades about 0.11 of its potential returns per unit of risk. UJU Electronics Co is currently generating about -0.01 per unit of risk. If you would invest 442,500 in Duksan Hi Metal on August 22, 2025 and sell it today you would earn a total of 128,500 from holding Duksan Hi Metal or generate 29.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Duksan Hi Metal vs. UJU Electronics Co
Performance |
| Timeline |
| Duksan Hi Metal |
| UJU Electronics |
Duksan Hi and UJU Electronics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Duksan Hi and UJU Electronics
The main advantage of trading using opposite Duksan Hi and UJU Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Duksan Hi position performs unexpectedly, UJU 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 UJU Electronics will offset losses from the drop in UJU Electronics' long position.| Duksan Hi vs. Chai Communication Co,LTD | Duksan Hi vs. Industrial Bank | Duksan Hi vs. Daelim Industrial Co | Duksan Hi vs. Mobileleader CoLtd |
| UJU Electronics vs. MNtech Co | UJU Electronics vs. Eagle Veterinary Technology | UJU Electronics vs. Konan Technology | UJU Electronics vs. Samyang Foods Co |
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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