Correlation Between Bosera CMSK and Kweichow Moutai
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By analyzing existing cross correlation between Bosera CMSK Industrial and Kweichow Moutai Co, you can compare the effects of market volatilities on Bosera CMSK and Kweichow Moutai 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 Bosera CMSK with a short position of Kweichow Moutai. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bosera CMSK and Kweichow Moutai.
Diversification Opportunities for Bosera CMSK and Kweichow Moutai
-0.81 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Bosera and Kweichow is -0.81. Overlapping area represents the amount of risk that can be diversified away by holding Bosera CMSK Industrial and Kweichow Moutai Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kweichow Moutai and Bosera CMSK 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 Bosera CMSK Industrial are associated (or correlated) with Kweichow Moutai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kweichow Moutai has no effect on the direction of Bosera CMSK i.e., Bosera CMSK and Kweichow Moutai go up and down completely randomly.
Pair Corralation between Bosera CMSK and Kweichow Moutai
Assuming the 90 days trading horizon Bosera CMSK Industrial is expected to generate 1.0 times more return on investment than Kweichow Moutai. However, Bosera CMSK is 1.0 times more volatile than Kweichow Moutai Co. It trades about 0.51 of its potential returns per unit of risk. Kweichow Moutai Co is currently generating about -0.18 per unit of risk. If you would invest 203.00 in Bosera CMSK Industrial on November 3, 2024 and sell it today you would earn a total of 21.00 from holding Bosera CMSK Industrial or generate 10.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bosera CMSK Industrial vs. Kweichow Moutai Co
Performance |
| Timeline |
| Bosera CMSK Industrial |
| Kweichow Moutai |
Bosera CMSK and Kweichow Moutai Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bosera CMSK and Kweichow Moutai
The main advantage of trading using opposite Bosera CMSK and Kweichow Moutai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bosera CMSK position performs unexpectedly, Kweichow Moutai 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 Kweichow Moutai will offset losses from the drop in Kweichow Moutai's long position.| Bosera CMSK vs. Shenzhen Topway Video | Bosera CMSK vs. Changzhou Evergreen Technology | Bosera CMSK vs. Kangping Technology Co | Bosera CMSK vs. Ye Chiu Metal |
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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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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