Correlation Between Anhui Gujing and Keeson Technology
Specify exactly 2 symbols:
By analyzing existing cross correlation between Anhui Gujing Distillery and Keeson Technology Corp, you can compare the effects of market volatilities on Anhui Gujing and Keeson Technology 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 Anhui Gujing with a short position of Keeson Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Gujing and Keeson Technology.
Diversification Opportunities for Anhui Gujing and Keeson Technology
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Anhui and Keeson is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Gujing Distillery and Keeson Technology Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Keeson Technology Corp and Anhui Gujing 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 Anhui Gujing Distillery are associated (or correlated) with Keeson Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Keeson Technology Corp has no effect on the direction of Anhui Gujing i.e., Anhui Gujing and Keeson Technology go up and down completely randomly.
Pair Corralation between Anhui Gujing and Keeson Technology
Assuming the 90 days trading horizon Anhui Gujing Distillery is expected to under-perform the Keeson Technology. In addition to that, Anhui Gujing is 1.25 times more volatile than Keeson Technology Corp. It trades about -0.04 of its total potential returns per unit of risk. Keeson Technology Corp is currently generating about 0.19 per unit of volatility. If you would invest 944.00 in Keeson Technology Corp on September 3, 2024 and sell it today you would earn a total of 80.00 from holding Keeson Technology Corp or generate 8.47% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anhui Gujing Distillery vs. Keeson Technology Corp
Performance |
| Timeline |
| Anhui Gujing Distillery |
| Keeson Technology Corp |
Anhui Gujing and Keeson Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Gujing and Keeson Technology
The main advantage of trading using opposite Anhui Gujing and Keeson Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Gujing position performs unexpectedly, Keeson Technology 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 Keeson Technology will offset losses from the drop in Keeson Technology's long position.| Anhui Gujing vs. Chinese Universe Publishing | Anhui Gujing vs. Shandong Publishing Media | Anhui Gujing vs. HUAQIN TECHNOLOGY LTD | Anhui Gujing vs. Shanghai Action Education |
| Keeson Technology vs. Jiangxi Naipu Mining | Keeson Technology vs. Western Mining Co | Keeson Technology vs. Guangdong Jingyi Metal | Keeson Technology vs. Chengtun Mining 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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
Other Complementary Tools
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges |