Correlation Between Kuangda Technology and Vohringer Home
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By analyzing existing cross correlation between Kuangda Technology Group and Vohringer Home Technology, you can compare the effects of market volatilities on Kuangda Technology and Vohringer Home 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 Kuangda Technology with a short position of Vohringer Home. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kuangda Technology and Vohringer Home.
Diversification Opportunities for Kuangda Technology and Vohringer Home
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Kuangda and Vohringer is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding Kuangda Technology Group and Vohringer Home Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vohringer Home Technology and Kuangda Technology 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 Kuangda Technology Group are associated (or correlated) with Vohringer Home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vohringer Home Technology has no effect on the direction of Kuangda Technology i.e., Kuangda Technology and Vohringer Home go up and down completely randomly.
Pair Corralation between Kuangda Technology and Vohringer Home
Assuming the 90 days trading horizon Kuangda Technology is expected to generate 2.04 times less return on investment than Vohringer Home. But when comparing it to its historical volatility, Kuangda Technology Group is 1.26 times less risky than Vohringer Home. It trades about 0.0 of its potential returns per unit of risk. Vohringer Home Technology is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 526.00 in Vohringer Home Technology on October 15, 2024 and sell it today you would lose (59.00) from holding Vohringer Home Technology or give up 11.22% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kuangda Technology Group vs. Vohringer Home Technology
Performance |
| Timeline |
| Kuangda Technology |
| Vohringer Home Technology |
Kuangda Technology and Vohringer Home Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kuangda Technology and Vohringer Home
The main advantage of trading using opposite Kuangda Technology and Vohringer Home positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kuangda Technology position performs unexpectedly, Vohringer Home 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 Vohringer Home will offset losses from the drop in Vohringer Home's long position.| Kuangda Technology vs. Vanfund Urban Investment | Kuangda Technology vs. Great Sun Foods Co | Kuangda Technology vs. Metro Investment Development | Kuangda Technology vs. Anji Foodstuff Co |
| Vohringer Home vs. Soyea Technology Co | Vohringer Home vs. Olympic Circuit Technology | Vohringer Home vs. Digiwin Software Co | Vohringer Home vs. Keeson Technology Corp |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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