Correlation Between Kingsignal Technology and Xiamen Jihong
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By analyzing existing cross correlation between Kingsignal Technology Co and Xiamen Jihong Package, you can compare the effects of market volatilities on Kingsignal Technology and Xiamen Jihong 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 Kingsignal Technology with a short position of Xiamen Jihong. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kingsignal Technology and Xiamen Jihong.
Diversification Opportunities for Kingsignal Technology and Xiamen Jihong
0.13 | Correlation Coefficient |
Average diversification
The 3 months correlation between Kingsignal and Xiamen is 0.13. Overlapping area represents the amount of risk that can be diversified away by holding Kingsignal Technology Co and Xiamen Jihong Package in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xiamen Jihong Package and Kingsignal 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 Kingsignal Technology Co are associated (or correlated) with Xiamen Jihong. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xiamen Jihong Package has no effect on the direction of Kingsignal Technology i.e., Kingsignal Technology and Xiamen Jihong go up and down completely randomly.
Pair Corralation between Kingsignal Technology and Xiamen Jihong
Assuming the 90 days trading horizon Kingsignal Technology Co is expected to generate 1.77 times more return on investment than Xiamen Jihong. However, Kingsignal Technology is 1.77 times more volatile than Xiamen Jihong Package. It trades about 0.04 of its potential returns per unit of risk. Xiamen Jihong Package is currently generating about -0.15 per unit of risk. If you would invest 914.00 in Kingsignal Technology Co on October 30, 2024 and sell it today you would earn a total of 26.00 from holding Kingsignal Technology Co or generate 2.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kingsignal Technology Co vs. Xiamen Jihong Package
Performance |
| Timeline |
| Kingsignal Technology |
| Xiamen Jihong Package |
Kingsignal Technology and Xiamen Jihong Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kingsignal Technology and Xiamen Jihong
The main advantage of trading using opposite Kingsignal Technology and Xiamen Jihong positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kingsignal Technology position performs unexpectedly, Xiamen Jihong 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 Xiamen Jihong will offset losses from the drop in Xiamen Jihong's long position.| Kingsignal Technology vs. Ligao Foods CoLtd | Kingsignal Technology vs. Xinjiang Tianrun Dairy | Kingsignal Technology vs. Nanya New Material | Kingsignal Technology vs. V V Food |
| Xiamen Jihong vs. Caihong Display Devices | Xiamen Jihong vs. Unisplendour Corp | Xiamen Jihong vs. Zhejiang JIULI Hi tech | Xiamen Jihong vs. Kuang Chi Technologies |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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