Correlation Between Coupang LLC and ACCESS Newswire

Can any of the company-specific risk be diversified away by investing in both Coupang LLC and ACCESS Newswire 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 Coupang LLC and ACCESS Newswire into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Coupang LLC and ACCESS Newswire, you can compare the effects of market volatilities on Coupang LLC and ACCESS Newswire 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 Coupang LLC with a short position of ACCESS Newswire. Check out your portfolio center. Please also check ongoing floating volatility patterns of Coupang LLC and ACCESS Newswire.

Diversification Opportunities for Coupang LLC and ACCESS Newswire

0.6

Correlation Coefficient

Coupang LLC  ACCESS Newswire

Poor diversification

The 3 months correlation between Coupang and ACCESS is 0.6. Overlapping area represents the amount of risk that can be diversified away by holding Coupang LLC and ACCESS Newswire in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ACCESS Newswire and Coupang LLC 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 Coupang LLC are associated (or correlated) with ACCESS Newswire. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ACCESS Newswire has no effect on the direction of Coupang LLC i.e., Coupang LLC and ACCESS Newswire go up and down completely randomly.

Pair Corralation between Coupang LLC and ACCESS Newswire

Given the investment horizon of 90 days Coupang LLC is expected to generate 3.51 times less return on investment than ACCESS Newswire. But when comparing it to its historical volatility, Coupang LLC is 2.27 times less risky than ACCESS Newswire. It trades about 0.06 of its potential returns per unit of risk. ACCESS Newswire is currently generating about 0.1 of returns per unit of risk over similar time horizon. If you would invest  910.00  in ACCESS Newswire on May 21, 2025 and sell it today you would earn a total of  172.00  from holding ACCESS Newswire or generate 18.9% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Significant
Accuracy	100.0%
Values	Daily Returns

Coupang LLC  vs.  ACCESS Newswire

Coupang LLC

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in Coupang LLC are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. Despite nearly stable basic indicators, Coupang LLC is not utilizing all of its potentials. The recent stock price disturbance, may contribute to mid-run losses for the stockholders.

ACCESS Newswire

Risk-Adjusted Performance

Fair

Compared to the overall equity markets, risk-adjusted returns on investments in ACCESS Newswire are ranked lower than 7 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively unfluctuating fundamental indicators, ACCESS Newswire unveiled solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Coupang LLC and ACCESS Newswire

The main advantage of trading using opposite Coupang LLC and ACCESS Newswire positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Coupang LLC position performs unexpectedly, ACCESS Newswire 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 ACCESS Newswire will offset losses from the drop in ACCESS Newswire's long position.

The idea behind Coupang LLC and ACCESS Newswire 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.

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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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.