Correlation Between Maxvision Technology and Kuang Chi
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By analyzing existing cross correlation between Maxvision Technology Corp and Kuang Chi Technologies, you can compare the effects of market volatilities on Maxvision Technology and Kuang Chi 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 Maxvision Technology with a short position of Kuang Chi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Maxvision Technology and Kuang Chi.
Diversification Opportunities for Maxvision Technology and Kuang Chi
0.29 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Maxvision and Kuang is 0.29. Overlapping area represents the amount of risk that can be diversified away by holding Maxvision Technology Corp and Kuang Chi Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kuang Chi Technologies and Maxvision 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 Maxvision Technology Corp are associated (or correlated) with Kuang Chi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kuang Chi Technologies has no effect on the direction of Maxvision Technology i.e., Maxvision Technology and Kuang Chi go up and down completely randomly.
Pair Corralation between Maxvision Technology and Kuang Chi
Assuming the 90 days trading horizon Maxvision Technology Corp is expected to under-perform the Kuang Chi. But the stock apears to be less risky and, when comparing its historical volatility, Maxvision Technology Corp is 1.17 times less risky than Kuang Chi. The stock trades about -0.14 of its potential returns per unit of risk. The Kuang Chi Technologies is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 4,167 in Kuang Chi Technologies on October 17, 2024 and sell it today you would lose (38.00) from holding Kuang Chi Technologies or give up 0.91% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Maxvision Technology Corp vs. Kuang Chi Technologies
Performance |
| Timeline |
| Maxvision Technology Corp |
| Kuang Chi Technologies |
Maxvision Technology and Kuang Chi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Maxvision Technology and Kuang Chi
The main advantage of trading using opposite Maxvision Technology and Kuang Chi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Maxvision Technology position performs unexpectedly, Kuang Chi 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 Kuang Chi will offset losses from the drop in Kuang Chi's long position.| Maxvision Technology vs. China Life Insurance | Maxvision Technology vs. Cinda Securities Co | Maxvision Technology vs. Piotech Inc A | Maxvision Technology vs. Dongxing Sec Co |
| Kuang Chi vs. Liaoning Dingjide Petrochemical | Kuang Chi vs. Guangzhou Jointas Chemical | Kuang Chi vs. Soyea Technology Co | Kuang Chi vs. Maxvision 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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
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