Correlation Between Kuang Chi and Jiangsu Jinling
Specify exactly 2 symbols:
By analyzing existing cross correlation between Kuang Chi Technologies and Jiangsu Jinling Sports, you can compare the effects of market volatilities on Kuang Chi and Jiangsu Jinling 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 Kuang Chi with a short position of Jiangsu Jinling. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kuang Chi and Jiangsu Jinling.
Diversification Opportunities for Kuang Chi and Jiangsu Jinling
-0.05 | Correlation Coefficient |
Good diversification
The 3 months correlation between Kuang and Jiangsu is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding Kuang Chi Technologies and Jiangsu Jinling Sports in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Jinling Sports and Kuang Chi 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 Kuang Chi Technologies are associated (or correlated) with Jiangsu Jinling. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Jinling Sports has no effect on the direction of Kuang Chi i.e., Kuang Chi and Jiangsu Jinling go up and down completely randomly.
Pair Corralation between Kuang Chi and Jiangsu Jinling
Assuming the 90 days trading horizon Kuang Chi Technologies is expected to generate 0.98 times more return on investment than Jiangsu Jinling. However, Kuang Chi Technologies is 1.02 times less risky than Jiangsu Jinling. It trades about 0.07 of its potential returns per unit of risk. Jiangsu Jinling Sports is currently generating about -0.02 per unit of risk. If you would invest 1,858 in Kuang Chi Technologies on October 27, 2024 and sell it today you would earn a total of 2,249 from holding Kuang Chi Technologies or generate 121.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kuang Chi Technologies vs. Jiangsu Jinling Sports
Performance |
| Timeline |
| Kuang Chi Technologies |
| Jiangsu Jinling Sports |
Kuang Chi and Jiangsu Jinling Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kuang Chi and Jiangsu Jinling
The main advantage of trading using opposite Kuang Chi and Jiangsu Jinling positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kuang Chi position performs unexpectedly, Jiangsu Jinling 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 Jiangsu Jinling will offset losses from the drop in Jiangsu Jinling's long position.| Kuang Chi vs. Meinian Onehealth Healthcare | Kuang Chi vs. Mingchen Health Co | Kuang Chi vs. Tonghua Grape Wine | Kuang Chi vs. Shenzhen Topway Video |
| Jiangsu Jinling vs. Iat Automobile Technology | Jiangsu Jinling vs. Bonree Data Technology | Jiangsu Jinling vs. Emdoor Information Co | Jiangsu Jinling vs. East Money Information |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
Other Complementary Tools
| Transaction History View history of all your transactions and understand their impact on performance | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Money Managers Screen money managers from public funds and ETFs managed around the world |