Correlation Between LINE and Kokoh Inti

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both LINE and Kokoh Inti 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 LINE and Kokoh Inti into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between LINE Corporation and Kokoh Inti Arebama, you can compare the effects of market volatilities on LINE and Kokoh Inti 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 LINE with a short position of Kokoh Inti. Check out your portfolio center. Please also check ongoing floating volatility patterns of LINE and Kokoh Inti.

Diversification Opportunities for LINE and Kokoh Inti

0.0
  Correlation Coefficient

Pay attention - limited upside

The 3 months correlation between LINE and Kokoh is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding LINE Corp. and Kokoh Inti Arebama in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kokoh Inti Arebama and LINE 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 LINE Corporation are associated (or correlated) with Kokoh Inti. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kokoh Inti Arebama has no effect on the direction of LINE i.e., LINE and Kokoh Inti go up and down completely randomly.

Pair Corralation between LINE and Kokoh Inti

If you would invest  7,200  in Kokoh Inti Arebama on December 29, 2023 and sell it today you would earn a total of  0.00  from holding Kokoh Inti Arebama or generate 0.0% return on investment over 90 days.
Time Period3 Months [change]
DirectionFlat 
StrengthInsignificant
Accuracy0.0%
ValuesDaily Returns

LINE Corp.  vs.  Kokoh Inti Arebama

 Performance 
       Timeline  
LINE 

Risk-Adjusted Performance

0 of 100

 
Low
 
High
Very Weak
Over the last 90 days LINE Corporation has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of very healthy basic indicators, LINE is not utilizing all of its potentials. The latest stock price disarray, may contribute to short-term losses for the investors.
Kokoh Inti Arebama 

Risk-Adjusted Performance

0 of 100

 
Low
 
High
Very Weak
Over the last 90 days Kokoh Inti Arebama has generated negative risk-adjusted returns adding no value to investors with long positions. Despite latest conflicting performance, the Stock's basic indicators remain persistent and the latest mess on Wall Street may also be a sign of long-standing gains for the company institutional investors.

LINE and Kokoh Inti Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with LINE and Kokoh Inti

The main advantage of trading using opposite LINE and Kokoh Inti positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LINE position performs unexpectedly, Kokoh Inti 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 Kokoh Inti will offset losses from the drop in Kokoh Inti's long position.
The idea behind LINE Corporation and Kokoh Inti Arebama pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.

Other Complementary Tools

Odds Of Bankruptcy
Get analysis of equity chance of financial distress in the next 2 years
Portfolio Dashboard
Portfolio dashboard that provides centralized access to all your investments
Financial Widgets
Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets
Insider Screener
Find insiders across different sectors to evaluate their impact on performance
Price Exposure Probability
Analyze equity upside and downside potential for a given time horizon across multiple markets
Portfolio Manager
State of the art Portfolio Manager to monitor and improve performance of your invested capital
Instant Ratings
Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance