Correlation Between Guangzhou KingTeller and Maxvision Technology
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By analyzing existing cross correlation between Guangzhou KingTeller Technology and Maxvision Technology Corp, you can compare the effects of market volatilities on Guangzhou KingTeller and Maxvision 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 Guangzhou KingTeller with a short position of Maxvision Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guangzhou KingTeller and Maxvision Technology.
Diversification Opportunities for Guangzhou KingTeller and Maxvision Technology
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Guangzhou and Maxvision is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Guangzhou KingTeller Technolog and Maxvision Technology Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maxvision Technology Corp and Guangzhou KingTeller 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 Guangzhou KingTeller Technology are associated (or correlated) with Maxvision Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maxvision Technology Corp has no effect on the direction of Guangzhou KingTeller i.e., Guangzhou KingTeller and Maxvision Technology go up and down completely randomly.
Pair Corralation between Guangzhou KingTeller and Maxvision Technology
Assuming the 90 days trading horizon Guangzhou KingTeller Technology is expected to generate 1.3 times more return on investment than Maxvision Technology. However, Guangzhou KingTeller is 1.3 times more volatile than Maxvision Technology Corp. It trades about 0.1 of its potential returns per unit of risk. Maxvision Technology Corp is currently generating about 0.04 per unit of risk. If you would invest 328.00 in Guangzhou KingTeller Technology on August 28, 2024 and sell it today you would earn a total of 144.00 from holding Guangzhou KingTeller Technology or generate 43.9% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guangzhou KingTeller Technolog vs. Maxvision Technology Corp
Performance |
| Timeline |
| Guangzhou KingTeller |
| Maxvision Technology Corp |
Guangzhou KingTeller and Maxvision Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guangzhou KingTeller and Maxvision Technology
The main advantage of trading using opposite Guangzhou KingTeller and Maxvision Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guangzhou KingTeller position performs unexpectedly, Maxvision 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 Maxvision Technology will offset losses from the drop in Maxvision Technology's long position.| Guangzhou KingTeller vs. Agricultural Bank of | Guangzhou KingTeller vs. Industrial and Commercial | Guangzhou KingTeller vs. Bank of China | Guangzhou KingTeller vs. China Construction Bank |
| Maxvision Technology vs. Kweichow Moutai Co | Maxvision Technology vs. Beijing Roborock Technology | Maxvision Technology vs. G bits Network Technology | Maxvision Technology vs. China Mobile Limited |
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 Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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