Correlation Between Accelink Technologies and Kunwu Jiuding
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By analyzing existing cross correlation between Accelink Technologies Co and Kunwu Jiuding Investment, you can compare the effects of market volatilities on Accelink Technologies 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 Accelink Technologies with a short position of Kunwu Jiuding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Accelink Technologies and Kunwu Jiuding.
Diversification Opportunities for Accelink Technologies and Kunwu Jiuding
-0.55 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Accelink and Kunwu is -0.55. Overlapping area represents the amount of risk that can be diversified away by holding Accelink Technologies Co 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 Accelink Technologies 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 Accelink Technologies Co 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 Accelink Technologies i.e., Accelink Technologies and Kunwu Jiuding go up and down completely randomly.
Pair Corralation between Accelink Technologies and Kunwu Jiuding
Assuming the 90 days trading horizon Accelink Technologies Co is expected to under-perform the Kunwu Jiuding. But the stock apears to be less risky and, when comparing its historical volatility, Accelink Technologies Co is 1.14 times less risky than Kunwu Jiuding. The stock trades about -0.04 of its potential returns per unit of risk. The Kunwu Jiuding Investment is currently generating about -0.04 of returns per unit of risk over similar time horizon. If you would invest 1,348 in Kunwu Jiuding Investment on November 2, 2024 and sell it today you would lose (60.00) from holding Kunwu Jiuding Investment or give up 4.45% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Accelink Technologies Co vs. Kunwu Jiuding Investment
Performance |
Timeline |
Accelink Technologies |
Kunwu Jiuding Investment |
Accelink Technologies and Kunwu Jiuding Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Accelink Technologies and Kunwu Jiuding
The main advantage of trading using opposite Accelink Technologies and Kunwu Jiuding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Accelink Technologies 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.Accelink Technologies vs. Vontron Technology Co | Accelink Technologies vs. Mengtian Home Group | Accelink Technologies vs. Shenzhen Topway Video | Accelink Technologies vs. Hangzhou Arcvideo Technology |
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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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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