Correlation Between Iat Automobile and Kuang Chi
Specify exactly 2 symbols:
By analyzing existing cross correlation between Iat Automobile Technology and Kuang Chi Technologies, you can compare the effects of market volatilities on Iat Automobile and Kuang Chi 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 Iat Automobile with a short position of Kuang Chi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Iat Automobile and Kuang Chi.
Diversification Opportunities for Iat Automobile and Kuang Chi
0.78 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Iat and Kuang is 0.78. Overlapping area represents the amount of risk that can be diversified away by holding Iat Automobile Technology and Kuang Chi Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kuang Chi Technologies and Iat Automobile 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 Iat Automobile Technology are associated (or correlated) with Kuang Chi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kuang Chi Technologies has no effect on the direction of Iat Automobile i.e., Iat Automobile and Kuang Chi go up and down completely randomly.
Pair Corralation between Iat Automobile and Kuang Chi
Assuming the 90 days trading horizon Iat Automobile Technology is expected to under-perform the Kuang Chi. In addition to that, Iat Automobile is 1.39 times more volatile than Kuang Chi Technologies. It trades about -0.08 of its total potential returns per unit of risk. Kuang Chi Technologies is currently generating about 0.2 per unit of volatility. If you would invest 4,005 in Kuang Chi Technologies on September 26, 2024 and sell it today you would earn a total of 407.00 from holding Kuang Chi Technologies or generate 10.16% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 100.0% |
Values | Daily Returns |
Iat Automobile Technology vs. Kuang Chi Technologies
Performance |
Timeline |
Iat Automobile Technology |
Kuang Chi Technologies |
Iat Automobile and Kuang Chi Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Iat Automobile and Kuang Chi
The main advantage of trading using opposite Iat Automobile and Kuang Chi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Iat Automobile position performs unexpectedly, Kuang Chi 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 Kuang Chi will offset losses from the drop in Kuang Chi's long position.Iat Automobile vs. China Life Insurance | Iat Automobile vs. Cinda Securities Co | Iat Automobile vs. Piotech Inc A | Iat Automobile vs. Dongxing Sec Co |
Kuang Chi vs. China Life Insurance | Kuang Chi vs. Cinda Securities Co | Kuang Chi vs. Piotech Inc A | Kuang Chi vs. Dongxing Sec 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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
Other Complementary Tools
Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
Transaction History View history of all your transactions and understand their impact on performance | |
Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk | |
Global Correlations Find global opportunities by holding instruments from different markets |