Correlation Between Kingsignal Technology and China Citic
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By analyzing existing cross correlation between Kingsignal Technology Co and China Citic Bank, you can compare the effects of market volatilities on Kingsignal Technology and China Citic 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 China Citic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kingsignal Technology and China Citic.
Diversification Opportunities for Kingsignal Technology and China Citic
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between Kingsignal and China is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding Kingsignal Technology Co and China Citic Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Citic Bank 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 China Citic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Citic Bank has no effect on the direction of Kingsignal Technology i.e., Kingsignal Technology and China Citic go up and down completely randomly.
Pair Corralation between Kingsignal Technology and China Citic
Assuming the 90 days trading horizon Kingsignal Technology Co is expected to generate 3.73 times more return on investment than China Citic. However, Kingsignal Technology is 3.73 times more volatile than China Citic Bank. It trades about 0.4 of its potential returns per unit of risk. China Citic Bank is currently generating about -0.1 per unit of risk. If you would invest 940.00 in Kingsignal Technology Co on November 27, 2024 and sell it today you would earn a total of 202.00 from holding Kingsignal Technology Co or generate 21.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kingsignal Technology Co vs. China Citic Bank
Performance |
| Timeline |
| Kingsignal Technology |
| China Citic Bank |
Kingsignal Technology and China Citic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kingsignal Technology and China Citic
The main advantage of trading using opposite Kingsignal Technology and China Citic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kingsignal Technology position performs unexpectedly, China Citic 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 China Citic will offset losses from the drop in China Citic's long position.| Kingsignal Technology vs. Wasu Media Holding | Kingsignal Technology vs. Caihong Display Devices | Kingsignal Technology vs. TVZone Media Co | Kingsignal Technology vs. JiShi Media Co |
| China Citic vs. Malion New Materials | China Citic vs. GRIPM Advanced Materials | China Citic vs. Fujian Longzhou Transportation | China Citic vs. Chongqing Sulian Plastic |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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