Correlation Between Telling Telecommunicatio and Guangzhou KingTeller
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By analyzing existing cross correlation between Telling Telecommunication Holding and Guangzhou KingTeller Technology, you can compare the effects of market volatilities on Telling Telecommunicatio 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 Telling Telecommunicatio with a short position of Guangzhou KingTeller. Check out your portfolio center. Please also check ongoing floating volatility patterns of Telling Telecommunicatio and Guangzhou KingTeller.
Diversification Opportunities for Telling Telecommunicatio and Guangzhou KingTeller
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Telling and Guangzhou is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Telling Telecommunication Hold and Guangzhou KingTeller Technolog in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangzhou KingTeller and Telling Telecommunicatio 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 Telling Telecommunication Holding 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 Telling Telecommunicatio i.e., Telling Telecommunicatio and Guangzhou KingTeller go up and down completely randomly.
Pair Corralation between Telling Telecommunicatio and Guangzhou KingTeller
Assuming the 90 days trading horizon Telling Telecommunication Holding is expected to under-perform the Guangzhou KingTeller. But the stock apears to be less risky and, when comparing its historical volatility, Telling Telecommunication Holding is 1.19 times less risky than Guangzhou KingTeller. The stock trades about -0.36 of its potential returns per unit of risk. The Guangzhou KingTeller Technology is currently generating about -0.28 of returns per unit of risk over similar time horizon. If you would invest 592.00 in Guangzhou KingTeller Technology on October 15, 2024 and sell it today you would lose (140.00) from holding Guangzhou KingTeller Technology or give up 23.65% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Telling Telecommunication Hold vs. Guangzhou KingTeller Technolog
Performance |
| Timeline |
| Telling Telecommunicatio |
| Guangzhou KingTeller |
Telling Telecommunicatio and Guangzhou KingTeller Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Telling Telecommunicatio and Guangzhou KingTeller
The main advantage of trading using opposite Telling Telecommunicatio and Guangzhou KingTeller positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Telling Telecommunicatio 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.| Telling Telecommunicatio vs. Sichuan Teway Food | Telling Telecommunicatio vs. Shantui Construction Machinery | Telling Telecommunicatio vs. Guilin Seamild Foods | Telling Telecommunicatio vs. HaiXin Foods Co |
| Guangzhou KingTeller vs. ZYF Lopsking Aluminum | Guangzhou KingTeller vs. Telling Telecommunication Holding | Guangzhou KingTeller vs. Quectel Wireless Solutions | Guangzhou KingTeller vs. Aluminum Corp of |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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