Correlation Between Guangzhou KingTeller and Mango Excellent
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By analyzing existing cross correlation between Guangzhou KingTeller Technology and Mango Excellent Media, you can compare the effects of market volatilities on Guangzhou KingTeller and Mango Excellent 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 Mango Excellent. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guangzhou KingTeller and Mango Excellent.
Diversification Opportunities for Guangzhou KingTeller and Mango Excellent
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Guangzhou and Mango is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding Guangzhou KingTeller Technolog and Mango Excellent Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mango Excellent Media 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 Mango Excellent. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mango Excellent Media has no effect on the direction of Guangzhou KingTeller i.e., Guangzhou KingTeller and Mango Excellent go up and down completely randomly.
Pair Corralation between Guangzhou KingTeller and Mango Excellent
Assuming the 90 days trading horizon Guangzhou KingTeller Technology is expected to generate 2.67 times more return on investment than Mango Excellent. However, Guangzhou KingTeller is 2.67 times more volatile than Mango Excellent Media. It trades about 0.2 of its potential returns per unit of risk. Mango Excellent Media is currently generating about 0.44 per unit of risk. If you would invest 401.00 in Guangzhou KingTeller Technology on November 6, 2024 and sell it today you would earn a total of 57.00 from holding Guangzhou KingTeller Technology or generate 14.21% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guangzhou KingTeller Technolog vs. Mango Excellent Media
Performance |
| Timeline |
| Guangzhou KingTeller |
| Mango Excellent Media |
Guangzhou KingTeller and Mango Excellent Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guangzhou KingTeller and Mango Excellent
The main advantage of trading using opposite Guangzhou KingTeller and Mango Excellent positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guangzhou KingTeller position performs unexpectedly, Mango Excellent 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 Mango Excellent will offset losses from the drop in Mango Excellent's long position.| Guangzhou KingTeller vs. Dongfeng Automobile Co | Guangzhou KingTeller vs. Guangxi Wuzhou Communications | Guangzhou KingTeller vs. Shenzhen Noposion Agrochemicals | Guangzhou KingTeller vs. Cansino Biologics |
| Mango Excellent vs. Ningbo Tip Rubber | Mango Excellent vs. GRIPM Advanced Materials | Mango Excellent vs. Queclink Wireless Solutions | Mango Excellent vs. Eastern Communications Co |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
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