Correlation Between Jiangsu Pacific and KSEC Intelligent
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By analyzing existing cross correlation between Jiangsu Pacific Quartz and KSEC Intelligent Technology, you can compare the effects of market volatilities on Jiangsu Pacific and KSEC Intelligent 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 Jiangsu Pacific with a short position of KSEC Intelligent. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangsu Pacific and KSEC Intelligent.
Diversification Opportunities for Jiangsu Pacific and KSEC Intelligent
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Jiangsu and KSEC is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Pacific Quartz and KSEC Intelligent Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KSEC Intelligent Tec and Jiangsu Pacific 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 Jiangsu Pacific Quartz are associated (or correlated) with KSEC Intelligent. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KSEC Intelligent Tec has no effect on the direction of Jiangsu Pacific i.e., Jiangsu Pacific and KSEC Intelligent go up and down completely randomly.
Pair Corralation between Jiangsu Pacific and KSEC Intelligent
Assuming the 90 days trading horizon Jiangsu Pacific Quartz is expected to generate 0.85 times more return on investment than KSEC Intelligent. However, Jiangsu Pacific Quartz is 1.18 times less risky than KSEC Intelligent. It trades about 0.02 of its potential returns per unit of risk. KSEC Intelligent Technology is currently generating about -0.09 per unit of risk. If you would invest 2,917 in Jiangsu Pacific Quartz on September 26, 2024 and sell it today you would earn a total of 9.00 from holding Jiangsu Pacific Quartz or generate 0.31% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Strong |
Accuracy | 100.0% |
Values | Daily Returns |
Jiangsu Pacific Quartz vs. KSEC Intelligent Technology
Performance |
Timeline |
Jiangsu Pacific Quartz |
KSEC Intelligent Tec |
Jiangsu Pacific and KSEC Intelligent Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Jiangsu Pacific and KSEC Intelligent
The main advantage of trading using opposite Jiangsu Pacific and KSEC Intelligent positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangsu Pacific position performs unexpectedly, KSEC Intelligent 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 KSEC Intelligent will offset losses from the drop in KSEC Intelligent's long position.Jiangsu Pacific vs. Ming Yang Smart | Jiangsu Pacific vs. 159681 | Jiangsu Pacific vs. 159005 | Jiangsu Pacific vs. Loctek Ergonomic Technology |
KSEC Intelligent vs. Kweichow Moutai Co | KSEC Intelligent vs. Shenzhen Mindray Bio Medical | KSEC Intelligent vs. Jiangsu Pacific Quartz | KSEC Intelligent vs. G bits Network Technology |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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