Correlation Between Talkweb Information and Kontour Medical
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By analyzing existing cross correlation between Talkweb Information System and Kontour Medical Technology, you can compare the effects of market volatilities on Talkweb Information 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 Talkweb Information with a short position of Kontour Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Talkweb Information and Kontour Medical.
Diversification Opportunities for Talkweb Information and Kontour Medical
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Talkweb and Kontour is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding Talkweb Information System 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 Talkweb Information 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 Talkweb Information System 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 Talkweb Information i.e., Talkweb Information and Kontour Medical go up and down completely randomly.
Pair Corralation between Talkweb Information and Kontour Medical
Assuming the 90 days trading horizon Talkweb Information System is expected to under-perform the Kontour Medical. But the stock apears to be less risky and, when comparing its historical volatility, Talkweb Information System is 1.39 times less risky than Kontour Medical. The stock trades about -0.24 of its potential returns per unit of risk. The Kontour Medical Technology is currently generating about -0.01 of returns per unit of risk over similar time horizon. If you would invest 2,843 in Kontour Medical Technology on September 27, 2024 and sell it today you would lose (38.00) from holding Kontour Medical Technology or give up 1.34% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Talkweb Information System vs. Kontour Medical Technology
Performance |
| Timeline |
| Talkweb Information |
| Kontour Medical Tech |
Talkweb Information and Kontour Medical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Talkweb Information and Kontour Medical
The main advantage of trading using opposite Talkweb Information and Kontour Medical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Talkweb Information 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.| Talkweb Information vs. China Petroleum Chemical | Talkweb Information vs. PetroChina Co Ltd | Talkweb Information vs. China State Construction | Talkweb Information vs. China Railway Group |
| Kontour Medical vs. Talkweb Information System | Kontour Medical vs. Westone Information Industry | Kontour Medical vs. Focus Media Information | Kontour Medical vs. Emdoor Information 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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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