Correlation Between Guilin Seamild and Keeson Technology
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By analyzing existing cross correlation between Guilin Seamild Foods and Keeson Technology Corp, you can compare the effects of market volatilities on Guilin Seamild and Keeson 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 Keeson Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guilin Seamild and Keeson Technology.
Diversification Opportunities for Guilin Seamild and Keeson Technology
0.83 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Guilin and Keeson is 0.83. Overlapping area represents the amount of risk that can be diversified away by holding Guilin Seamild Foods and Keeson Technology Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Keeson Technology Corp 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 Keeson Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Keeson Technology Corp has no effect on the direction of Guilin Seamild i.e., Guilin Seamild and Keeson Technology go up and down completely randomly.
Pair Corralation between Guilin Seamild and Keeson Technology
Assuming the 90 days trading horizon Guilin Seamild is expected to generate 1.2 times less return on investment than Keeson Technology. But when comparing it to its historical volatility, Guilin Seamild Foods is 1.35 times less risky than Keeson Technology. It trades about 0.08 of its potential returns per unit of risk. Keeson Technology Corp is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 1,024 in Keeson Technology Corp on October 30, 2024 and sell it today you would earn a total of 90.00 from holding Keeson Technology Corp or generate 8.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 97.62% |
| Values | Daily Returns |
Guilin Seamild Foods vs. Keeson Technology Corp
Performance |
| Timeline |
| Guilin Seamild Foods |
| Keeson Technology Corp |
Guilin Seamild and Keeson Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guilin Seamild and Keeson Technology
The main advantage of trading using opposite Guilin Seamild and Keeson Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guilin Seamild position performs unexpectedly, Keeson 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 Keeson Technology will offset losses from the drop in Keeson 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 |
| Keeson Technology vs. Cloud Live Technology | Keeson Technology vs. Nanjing Putian Telecommunications | Keeson Technology vs. Shenzhen Coship Electronics | Keeson Technology vs. Shenzhen Hifuture Electric |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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