Correlation Between Guilin Seamild and Kingsignal Technology
Specify exactly 2 symbols:
By analyzing existing cross correlation between Guilin Seamild Foods and Kingsignal Technology Co, you can compare the effects of market volatilities on Guilin Seamild and Kingsignal Technology 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 Guilin Seamild with a short position of Kingsignal Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guilin Seamild and Kingsignal Technology.
Diversification Opportunities for Guilin Seamild and Kingsignal Technology
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Guilin and Kingsignal is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Guilin Seamild Foods and Kingsignal Technology Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kingsignal Technology and Guilin Seamild 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 Guilin Seamild Foods are associated (or correlated) with Kingsignal Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kingsignal Technology has no effect on the direction of Guilin Seamild i.e., Guilin Seamild and Kingsignal Technology go up and down completely randomly.
Pair Corralation between Guilin Seamild and Kingsignal Technology
Assuming the 90 days trading horizon Guilin Seamild Foods is expected to generate 0.56 times more return on investment than Kingsignal Technology. However, Guilin Seamild Foods is 1.78 times less risky than Kingsignal Technology. It trades about 0.08 of its potential returns per unit of risk. Kingsignal Technology Co is currently generating about 0.04 per unit of risk. If you would invest 1,456 in Guilin Seamild Foods on October 30, 2024 and sell it today you would earn a total of 120.00 from holding Guilin Seamild Foods or generate 8.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guilin Seamild Foods vs. Kingsignal Technology Co
Performance |
| Timeline |
| Guilin Seamild Foods |
| Kingsignal Technology |
Guilin Seamild and Kingsignal Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guilin Seamild and Kingsignal Technology
The main advantage of trading using opposite Guilin Seamild and Kingsignal Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guilin Seamild position performs unexpectedly, Kingsignal Technology 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 Kingsignal Technology will offset losses from the drop in Kingsignal Technology's long position.| Guilin Seamild vs. Panda Financial Holding | Guilin Seamild vs. Biwin Storage Technology | Guilin Seamild vs. Hua Xia Bank | Guilin Seamild vs. East Money Information |
| Kingsignal Technology vs. Ligao Foods CoLtd | Kingsignal Technology vs. Xinjiang Tianrun Dairy | Kingsignal Technology vs. Nanya New Material | Kingsignal Technology vs. V V Food |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
Other Complementary Tools
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios |