Correlation Between KSEC Intelligent and Sanbo Hospital
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By analyzing existing cross correlation between KSEC Intelligent Technology and Sanbo Hospital Management, you can compare the effects of market volatilities on KSEC Intelligent and Sanbo Hospital 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 KSEC Intelligent with a short position of Sanbo Hospital. Check out your portfolio center. Please also check ongoing floating volatility patterns of KSEC Intelligent and Sanbo Hospital.
Diversification Opportunities for KSEC Intelligent and Sanbo Hospital
0.72 | Correlation Coefficient |
Poor diversification
The 3 months correlation between KSEC and Sanbo is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding KSEC Intelligent Technology and Sanbo Hospital Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sanbo Hospital Management and KSEC Intelligent 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 KSEC Intelligent Technology are associated (or correlated) with Sanbo Hospital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sanbo Hospital Management has no effect on the direction of KSEC Intelligent i.e., KSEC Intelligent and Sanbo Hospital go up and down completely randomly.
Pair Corralation between KSEC Intelligent and Sanbo Hospital
Assuming the 90 days trading horizon KSEC Intelligent Technology is expected to under-perform the Sanbo Hospital. In addition to that, KSEC Intelligent is 1.05 times more volatile than Sanbo Hospital Management. It trades about -0.01 of its total potential returns per unit of risk. Sanbo Hospital Management is currently generating about 0.01 per unit of volatility. If you would invest 5,084 in Sanbo Hospital Management on October 27, 2024 and sell it today you would lose (574.00) from holding Sanbo Hospital Management or give up 11.29% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 100.0% |
Values | Daily Returns |
KSEC Intelligent Technology vs. Sanbo Hospital Management
Performance |
Timeline |
KSEC Intelligent Tec |
Sanbo Hospital Management |
KSEC Intelligent and Sanbo Hospital Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with KSEC Intelligent and Sanbo Hospital
The main advantage of trading using opposite KSEC Intelligent and Sanbo Hospital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KSEC Intelligent position performs unexpectedly, Sanbo Hospital 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 Sanbo Hospital will offset losses from the drop in Sanbo Hospital's long position.KSEC Intelligent vs. China State Construction | ||
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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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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