Correlation Between Kuang Chi and Peoples Insurance
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By analyzing existing cross correlation between Kuang Chi Technologies and Peoples Insurance of, you can compare the effects of market volatilities on Kuang Chi and Peoples Insurance 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 Peoples Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kuang Chi and Peoples Insurance.
Diversification Opportunities for Kuang Chi and Peoples Insurance
0.27 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Kuang and Peoples is 0.27. Overlapping area represents the amount of risk that can be diversified away by holding Kuang Chi Technologies and Peoples Insurance of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Peoples Insurance 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 Peoples Insurance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Peoples Insurance has no effect on the direction of Kuang Chi i.e., Kuang Chi and Peoples Insurance go up and down completely randomly.
Pair Corralation between Kuang Chi and Peoples Insurance
Assuming the 90 days trading horizon Kuang Chi Technologies is expected to generate 1.75 times more return on investment than Peoples Insurance. However, Kuang Chi is 1.75 times more volatile than Peoples Insurance of. It trades about 0.07 of its potential returns per unit of risk. Peoples Insurance of is currently generating about 0.04 per unit of risk. If you would invest 1,800 in Kuang Chi Technologies on October 11, 2024 and sell it today you would earn a total of 2,323 from holding Kuang Chi Technologies or generate 129.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kuang Chi Technologies vs. Peoples Insurance of
Performance |
| Timeline |
| Kuang Chi Technologies |
| Peoples Insurance |
Kuang Chi and Peoples Insurance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kuang Chi and Peoples Insurance
The main advantage of trading using opposite Kuang Chi and Peoples Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kuang Chi position performs unexpectedly, Peoples Insurance 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 Peoples Insurance will offset losses from the drop in Peoples Insurance's long position.| Kuang Chi vs. Chengtun Mining Group | Kuang Chi vs. Jiangxi Naipu Mining | Kuang Chi vs. Hainan Mining Co | Kuang Chi vs. Fujian Oriental Silver |
| Peoples Insurance vs. Jiangsu Jinling Sports | Peoples Insurance vs. Zhejiang JIULI Hi tech | Peoples Insurance vs. Jiangxi Hengda Hi Tech | Peoples Insurance vs. Fujian Newland Computer |
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 Valuation module to check real value of public entities based on technical and fundamental data.
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