Correlation Between Kingsignal Technology and Keeson Technology
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By analyzing existing cross correlation between Kingsignal Technology Co and Keeson Technology Corp, you can compare the effects of market volatilities on Kingsignal Technology and Keeson Technology 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 Keeson Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kingsignal Technology and Keeson Technology.
Diversification Opportunities for Kingsignal Technology and Keeson Technology
0.7 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Kingsignal and Keeson is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding Kingsignal Technology Co and Keeson Technology Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Keeson Technology Corp 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 Keeson Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Keeson Technology Corp has no effect on the direction of Kingsignal Technology i.e., Kingsignal Technology and Keeson Technology go up and down completely randomly.
Pair Corralation between Kingsignal Technology and Keeson Technology
Assuming the 90 days trading horizon Kingsignal Technology is expected to generate 1.29 times less return on investment than Keeson Technology. In addition to that, Kingsignal Technology is 1.32 times more volatile than Keeson Technology Corp. It trades about 0.04 of its total potential returns per unit of risk. Keeson Technology Corp is currently generating about 0.07 per unit of volatility. If you would invest 1,024 in Keeson Technology Corp on October 30, 2024 and sell it today you would earn a total of 90.00 from holding Keeson Technology Corp or generate 8.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 97.62% |
| Values | Daily Returns |
Kingsignal Technology Co vs. Keeson Technology Corp
Performance |
| Timeline |
| Kingsignal Technology |
| Keeson Technology Corp |
Kingsignal Technology and Keeson Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kingsignal Technology and Keeson Technology
The main advantage of trading using opposite Kingsignal Technology and Keeson Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kingsignal Technology position performs unexpectedly, Keeson Technology 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 Keeson Technology will offset losses from the drop in Keeson Technology'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 |
| Keeson Technology vs. Cloud Live Technology | Keeson Technology vs. Nanjing Putian Telecommunications | Keeson Technology vs. Shenzhen Coship Electronics | Keeson Technology vs. Shenzhen Hifuture Electric |
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 Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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