Correlation Between Lecron Energy and Keeson Technology
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By analyzing existing cross correlation between Lecron Energy Saving and Keeson Technology Corp, you can compare the effects of market volatilities on Lecron Energy 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 Lecron Energy with a short position of Keeson Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lecron Energy and Keeson Technology.
Diversification Opportunities for Lecron Energy and Keeson Technology
0.06 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Lecron and Keeson is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding Lecron Energy Saving 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 Lecron Energy 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 Lecron Energy Saving 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 Lecron Energy i.e., Lecron Energy and Keeson Technology go up and down completely randomly.
Pair Corralation between Lecron Energy and Keeson Technology
Assuming the 90 days trading horizon Lecron Energy Saving is expected to generate 1.54 times more return on investment than Keeson Technology. However, Lecron Energy is 1.54 times more volatile than Keeson Technology Corp. It trades about 0.01 of its potential returns per unit of risk. Keeson Technology Corp is currently generating about -0.01 per unit of risk. If you would invest 640.00 in Lecron Energy Saving on October 16, 2024 and sell it today you would lose (124.00) from holding Lecron Energy Saving or give up 19.37% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lecron Energy Saving vs. Keeson Technology Corp
Performance |
| Timeline |
| Lecron Energy Saving |
| Keeson Technology Corp |
Lecron Energy and Keeson Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lecron Energy and Keeson Technology
The main advantage of trading using opposite Lecron Energy and Keeson Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lecron Energy 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.| Lecron Energy vs. Songz Automobile Air | Lecron Energy vs. Beijing Kingsoft Office | Lecron Energy vs. Sinomach Automobile Co | Lecron Energy vs. Haima Automobile Group |
| Keeson Technology vs. Qilu Bank Co | Keeson Technology vs. Guangxi Wuzhou Communications | Keeson Technology vs. Ningbo Tech Bank Co | Keeson Technology vs. Lecron Energy Saving |
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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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