Correlation Between Kweichow Moutai and Gohigh Data
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By analyzing existing cross correlation between Kweichow Moutai Co and Gohigh Data Networks, you can compare the effects of market volatilities on Kweichow Moutai and Gohigh Data 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 Kweichow Moutai with a short position of Gohigh Data. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kweichow Moutai and Gohigh Data.
Diversification Opportunities for Kweichow Moutai and Gohigh Data
0.51 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Kweichow and Gohigh is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding Kweichow Moutai Co and Gohigh Data Networks in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gohigh Data Networks and Kweichow Moutai 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 Kweichow Moutai Co are associated (or correlated) with Gohigh Data. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gohigh Data Networks has no effect on the direction of Kweichow Moutai i.e., Kweichow Moutai and Gohigh Data go up and down completely randomly.
Pair Corralation between Kweichow Moutai and Gohigh Data
Assuming the 90 days trading horizon Kweichow Moutai Co is expected to generate 0.34 times more return on investment than Gohigh Data. However, Kweichow Moutai Co is 2.96 times less risky than Gohigh Data. It trades about -0.28 of its potential returns per unit of risk. Gohigh Data Networks is currently generating about -0.21 per unit of risk. If you would invest 153,882 in Kweichow Moutai Co on October 25, 2024 and sell it today you would lose (9,782) from holding Kweichow Moutai Co or give up 6.36% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 95.45% |
Values | Daily Returns |
Kweichow Moutai Co vs. Gohigh Data Networks
Performance |
Timeline |
Kweichow Moutai |
Gohigh Data Networks |
Kweichow Moutai and Gohigh Data Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Kweichow Moutai and Gohigh Data
The main advantage of trading using opposite Kweichow Moutai and Gohigh Data positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kweichow Moutai position performs unexpectedly, Gohigh Data 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 Gohigh Data will offset losses from the drop in Gohigh Data's long position.Kweichow Moutai vs. Southchip Semiconductor Technology | Kweichow Moutai vs. Yingde Greatchem Chemicals | Kweichow Moutai vs. Aba Chemicals Corp | Kweichow Moutai vs. Easyhome New Retail |
Gohigh Data vs. Zhejiang Publishing Media | Gohigh Data vs. China Publishing Media | Gohigh Data vs. New Hope Dairy | Gohigh Data vs. Qtone Education Group |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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