Correlation Between Focus Media and Kontour Medical
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By analyzing existing cross correlation between Focus Media Information and Kontour Medical Technology, you can compare the effects of market volatilities on Focus Media and Kontour Medical 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 Focus Media with a short position of Kontour Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Focus Media and Kontour Medical.
Diversification Opportunities for Focus Media and Kontour Medical
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between Focus and Kontour is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Focus Media Information and Kontour Medical Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kontour Medical Tech and Focus Media 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 Focus Media Information are associated (or correlated) with Kontour Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kontour Medical Tech has no effect on the direction of Focus Media i.e., Focus Media and Kontour Medical go up and down completely randomly.
Pair Corralation between Focus Media and Kontour Medical
Assuming the 90 days trading horizon Focus Media Information is expected to generate 0.63 times more return on investment than Kontour Medical. However, Focus Media Information is 1.58 times less risky than Kontour Medical. It trades about 0.01 of its potential returns per unit of risk. Kontour Medical Technology is currently generating about 0.0 per unit of risk. If you would invest 619.00 in Focus Media Information on October 15, 2024 and sell it today you would earn a total of 25.00 from holding Focus Media Information or generate 4.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Focus Media Information vs. Kontour Medical Technology
Performance |
| Timeline |
| Focus Media Information |
| Kontour Medical Tech |
Focus Media and Kontour Medical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Focus Media and Kontour Medical
The main advantage of trading using opposite Focus Media and Kontour Medical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Focus Media position performs unexpectedly, Kontour Medical 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 Kontour Medical will offset losses from the drop in Kontour Medical's long position.| Focus Media vs. Heilongjiang Transport Development | Focus Media vs. Zhejiang Kingland Pipeline | Focus Media vs. Xinjiang Baodi Mining | Focus Media vs. Jiangsu Broadcasting Cable |
| Kontour Medical vs. Bloomage Biotechnology Corp | Kontour Medical vs. Ningxia Younglight Chemicals | Kontour Medical vs. Sunwave Communications Co | Kontour Medical vs. Dr Peng Telecom |
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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