Correlation Between Shenzhen Clou and Kunwu Jiuding
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By analyzing existing cross correlation between Shenzhen Clou Electronics and Kunwu Jiuding Investment, you can compare the effects of market volatilities on Shenzhen Clou and Kunwu Jiuding 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 Shenzhen Clou with a short position of Kunwu Jiuding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenzhen Clou and Kunwu Jiuding.
Diversification Opportunities for Shenzhen Clou and Kunwu Jiuding
0.87 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Shenzhen and Kunwu is 0.87. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen Clou Electronics and Kunwu Jiuding Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kunwu Jiuding Investment and Shenzhen Clou 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 Shenzhen Clou Electronics are associated (or correlated) with Kunwu Jiuding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kunwu Jiuding Investment has no effect on the direction of Shenzhen Clou i.e., Shenzhen Clou and Kunwu Jiuding go up and down completely randomly.
Pair Corralation between Shenzhen Clou and Kunwu Jiuding
Assuming the 90 days trading horizon Shenzhen Clou Electronics is expected to generate 1.05 times more return on investment than Kunwu Jiuding. However, Shenzhen Clou is 1.05 times more volatile than Kunwu Jiuding Investment. It trades about 0.09 of its potential returns per unit of risk. Kunwu Jiuding Investment is currently generating about 0.01 per unit of risk. If you would invest 424.00 in Shenzhen Clou Electronics on September 1, 2024 and sell it today you would earn a total of 27.00 from holding Shenzhen Clou Electronics or generate 6.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shenzhen Clou Electronics vs. Kunwu Jiuding Investment
Performance |
| Timeline |
| Shenzhen Clou Electronics |
| Kunwu Jiuding Investment |
Shenzhen Clou and Kunwu Jiuding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shenzhen Clou and Kunwu Jiuding
The main advantage of trading using opposite Shenzhen Clou and Kunwu Jiuding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenzhen Clou position performs unexpectedly, Kunwu Jiuding 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 Kunwu Jiuding will offset losses from the drop in Kunwu Jiuding's long position.| Shenzhen Clou vs. Maxvision Technology Corp | Shenzhen Clou vs. Huaxia Fund Management | Shenzhen Clou vs. Guangzhou KingTeller Technology | Shenzhen Clou vs. 360 Security Technology |
| Kunwu Jiuding vs. BeiGene | Kunwu Jiuding vs. Kweichow Moutai Co | Kunwu Jiuding vs. Beijing Roborock Technology | Kunwu Jiuding 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 Stocks Directory module to find actively traded stocks across global markets.
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