Correlation Between Keeson Technology and Guangzhou KingTeller
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By analyzing existing cross correlation between Keeson Technology Corp and Guangzhou KingTeller Technology, you can compare the effects of market volatilities on Keeson Technology and Guangzhou KingTeller 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 Keeson Technology with a short position of Guangzhou KingTeller. Check out your portfolio center. Please also check ongoing floating volatility patterns of Keeson Technology and Guangzhou KingTeller.
Diversification Opportunities for Keeson Technology and Guangzhou KingTeller
0.84 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Keeson and Guangzhou is 0.84. Overlapping area represents the amount of risk that can be diversified away by holding Keeson Technology Corp and Guangzhou KingTeller Technolog in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangzhou KingTeller and Keeson Technology 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 Keeson Technology Corp are associated (or correlated) with Guangzhou KingTeller. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangzhou KingTeller has no effect on the direction of Keeson Technology i.e., Keeson Technology and Guangzhou KingTeller go up and down completely randomly.
Pair Corralation between Keeson Technology and Guangzhou KingTeller
Assuming the 90 days trading horizon Keeson Technology Corp is expected to generate 0.74 times more return on investment than Guangzhou KingTeller. However, Keeson Technology Corp is 1.35 times less risky than Guangzhou KingTeller. It trades about 0.15 of its potential returns per unit of risk. Guangzhou KingTeller Technology is currently generating about 0.07 per unit of risk. If you would invest 998.00 in Keeson Technology Corp on September 26, 2024 and sell it today you would earn a total of 125.00 from holding Keeson Technology Corp or generate 12.53% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Strong |
Accuracy | 100.0% |
Values | Daily Returns |
Keeson Technology Corp vs. Guangzhou KingTeller Technolog
Performance |
Timeline |
Keeson Technology Corp |
Guangzhou KingTeller |
Keeson Technology and Guangzhou KingTeller Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Keeson Technology and Guangzhou KingTeller
The main advantage of trading using opposite Keeson Technology and Guangzhou KingTeller positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Keeson Technology position performs unexpectedly, Guangzhou KingTeller 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 Guangzhou KingTeller will offset losses from the drop in Guangzhou KingTeller's long position.Keeson Technology vs. Agricultural Bank of | Keeson Technology vs. Industrial and Commercial | Keeson Technology vs. Bank of China | Keeson Technology vs. China Construction Bank |
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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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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