Correlation Between China Asset and Kidswant Children
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By analyzing existing cross correlation between China Asset Management and Kidswant Children Products, you can compare the effects of market volatilities on China Asset and Kidswant Children 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 China Asset with a short position of Kidswant Children. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Asset and Kidswant Children.
Diversification Opportunities for China Asset and Kidswant Children
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between China and Kidswant is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding China Asset Management and Kidswant Children Products in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kidswant Children and China Asset 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 China Asset Management are associated (or correlated) with Kidswant Children. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kidswant Children has no effect on the direction of China Asset i.e., China Asset and Kidswant Children go up and down completely randomly.
Pair Corralation between China Asset and Kidswant Children
Assuming the 90 days trading horizon China Asset Management is expected to generate 0.32 times more return on investment than Kidswant Children. However, China Asset Management is 3.13 times less risky than Kidswant Children. It trades about 0.29 of its potential returns per unit of risk. Kidswant Children Products is currently generating about 0.05 per unit of risk. If you would invest 316.00 in China Asset Management on November 19, 2024 and sell it today you would earn a total of 75.00 from holding China Asset Management or generate 23.73% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
China Asset Management vs. Kidswant Children Products
Performance |
Timeline |
China Asset Management |
Kidswant Children |
China Asset and Kidswant Children Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with China Asset and Kidswant Children
The main advantage of trading using opposite China Asset and Kidswant Children positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Asset position performs unexpectedly, Kidswant Children 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 Kidswant Children will offset losses from the drop in Kidswant Children's long position.China Asset vs. Gansu Huangtai Wine marketing | ||
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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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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