Correlation Between Kingsignal Technology and Jiangsu Yueda
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By analyzing existing cross correlation between Kingsignal Technology Co and Jiangsu Yueda Investment, you can compare the effects of market volatilities on Kingsignal Technology and Jiangsu Yueda 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 Jiangsu Yueda. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kingsignal Technology and Jiangsu Yueda.
Diversification Opportunities for Kingsignal Technology and Jiangsu Yueda
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between Kingsignal and Jiangsu is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding Kingsignal Technology Co and Jiangsu Yueda Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jiangsu Yueda Investment 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 Jiangsu Yueda. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jiangsu Yueda Investment has no effect on the direction of Kingsignal Technology i.e., Kingsignal Technology and Jiangsu Yueda go up and down completely randomly.
Pair Corralation between Kingsignal Technology and Jiangsu Yueda
Assuming the 90 days trading horizon Kingsignal Technology Co is expected to generate 2.79 times more return on investment than Jiangsu Yueda. However, Kingsignal Technology is 2.79 times more volatile than Jiangsu Yueda Investment. It trades about 0.04 of its potential returns per unit of risk. Jiangsu Yueda Investment is currently generating about -0.11 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. Jiangsu Yueda Investment
Performance |
| Timeline |
| Kingsignal Technology |
| Jiangsu Yueda Investment |
Kingsignal Technology and Jiangsu Yueda Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kingsignal Technology and Jiangsu Yueda
The main advantage of trading using opposite Kingsignal Technology and Jiangsu Yueda positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kingsignal Technology position performs unexpectedly, Jiangsu Yueda 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 Jiangsu Yueda will offset losses from the drop in Jiangsu Yueda'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 |
| Jiangsu Yueda vs. Industrial and Commercial | Jiangsu Yueda vs. China Construction Bank | Jiangsu Yueda vs. Bank of China | Jiangsu Yueda vs. Agricultural Bank of |
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 Optimization module to compute new portfolio that will generate highest expected return given your specified tolerance for risk.
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