Correlation Between Allwin Telecommunicatio and Keeson Technology
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By analyzing existing cross correlation between Allwin Telecommunication Co and Keeson Technology Corp, you can compare the effects of market volatilities on Allwin Telecommunicatio and Keeson 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 Allwin Telecommunicatio with a short position of Keeson Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Allwin Telecommunicatio and Keeson Technology.
Diversification Opportunities for Allwin Telecommunicatio and Keeson Technology
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between Allwin and Keeson is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding Allwin Telecommunication Co and Keeson Technology Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Keeson Technology Corp and Allwin 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 Allwin Telecommunication Co are associated (or correlated) with Keeson Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Keeson Technology Corp has no effect on the direction of Allwin Telecommunicatio i.e., Allwin Telecommunicatio and Keeson Technology go up and down completely randomly.
Pair Corralation between Allwin Telecommunicatio and Keeson Technology
Assuming the 90 days trading horizon Allwin Telecommunication Co is expected to under-perform the Keeson Technology. But the stock apears to be less risky and, when comparing its historical volatility, Allwin Telecommunication Co is 1.4 times less risky than Keeson Technology. The stock trades about -0.1 of its potential returns per unit of risk. The Keeson Technology Corp is currently generating about -0.04 of returns per unit of risk over similar time horizon. If you would invest 1,123 in Keeson Technology Corp on October 25, 2024 and sell it today you would lose (63.00) from holding Keeson Technology Corp or give up 5.61% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Allwin Telecommunication Co vs. Keeson Technology Corp
Performance |
| Timeline |
| Allwin Telecommunicatio |
| Keeson Technology Corp |
Allwin Telecommunicatio and Keeson Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Allwin Telecommunicatio and Keeson Technology
The main advantage of trading using opposite Allwin Telecommunicatio and Keeson Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Allwin Telecommunicatio position performs unexpectedly, Keeson 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 Keeson Technology will offset losses from the drop in Keeson Technology's long position.| Allwin Telecommunicatio vs. Tongyu Communication | Allwin Telecommunicatio vs. Xiamen Bank Co | Allwin Telecommunicatio vs. China Satellite Communications | Allwin Telecommunicatio vs. Hua Xia Bank |
| Keeson Technology vs. Bangyan Technology Co | Keeson Technology vs. Qilu Bank Co | Keeson Technology vs. Agricultural Bank of | Keeson Technology vs. Shenwu Energy Saving |
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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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