Correlation Between JSC Halyk and Merit Medical
Can any of the company-specific risk be diversified away by investing in both JSC Halyk and Merit Medical 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 JSC Halyk and Merit Medical into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between JSC Halyk bank and Merit Medical Systems, you can compare the effects of market volatilities on JSC Halyk and Merit Medical 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 JSC Halyk with a short position of Merit Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of JSC Halyk and Merit Medical.
Diversification Opportunities for JSC Halyk and Merit Medical
-0.39 | Correlation Coefficient |
Very good diversification
The 3 months correlation between JSC and Merit is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding JSC Halyk bank and Merit Medical Systems in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Merit Medical Systems and JSC Halyk 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 JSC Halyk bank are associated (or correlated) with Merit Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Merit Medical Systems has no effect on the direction of JSC Halyk i.e., JSC Halyk and Merit Medical go up and down completely randomly.
Pair Corralation between JSC Halyk and Merit Medical
Assuming the 90 days trading horizon JSC Halyk bank is expected to under-perform the Merit Medical. In addition to that, JSC Halyk is 1.46 times more volatile than Merit Medical Systems. It trades about -0.02 of its total potential returns per unit of risk. Merit Medical Systems is currently generating about -0.01 per unit of volatility. If you would invest 7,700 in Merit Medical Systems on August 27, 2025 and sell it today you would lose (200.00) from holding Merit Medical Systems or give up 2.6% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.46% |
| Values | Daily Returns |
JSC Halyk bank vs. Merit Medical Systems
Performance |
| Timeline |
| JSC Halyk bank |
| Merit Medical Systems |
JSC Halyk and Merit Medical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with JSC Halyk and Merit Medical
The main advantage of trading using opposite JSC Halyk and Merit Medical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if JSC Halyk position performs unexpectedly, Merit Medical 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 Merit Medical will offset losses from the drop in Merit Medical's long position.| JSC Halyk vs. HDFC Bank Limited | JSC Halyk vs. PT Bank Central | JSC Halyk vs. PT Bank Rakyat | JSC Halyk vs. Mizuho Financial Group |
| Merit Medical vs. Jacquet Metal Service | Merit Medical vs. Fortescue Metals Group | Merit Medical vs. STORE ELECTRONIC | Merit Medical vs. METHODE ELECTRONICS |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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