Correlation Between Kangyue Technology and Guilin Seamild
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By analyzing existing cross correlation between Kangyue Technology Co and Guilin Seamild Foods, you can compare the effects of market volatilities on Kangyue Technology and Guilin Seamild 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 Kangyue Technology with a short position of Guilin Seamild. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kangyue Technology and Guilin Seamild.
Diversification Opportunities for Kangyue Technology and Guilin Seamild
-0.37 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Kangyue and Guilin is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding Kangyue Technology Co and Guilin Seamild Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guilin Seamild Foods and Kangyue 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 Kangyue Technology Co are associated (or correlated) with Guilin Seamild. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guilin Seamild Foods has no effect on the direction of Kangyue Technology i.e., Kangyue Technology and Guilin Seamild go up and down completely randomly.
Pair Corralation between Kangyue Technology and Guilin Seamild
Assuming the 90 days trading horizon Kangyue Technology Co is expected to generate 2.39 times more return on investment than Guilin Seamild. However, Kangyue Technology is 2.39 times more volatile than Guilin Seamild Foods. It trades about 0.04 of its potential returns per unit of risk. Guilin Seamild Foods is currently generating about 0.06 per unit of risk. If you would invest 483.00 in Kangyue Technology Co on December 4, 2024 and sell it today you would earn a total of 75.00 from holding Kangyue Technology Co or generate 15.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kangyue Technology Co vs. Guilin Seamild Foods
Performance |
| Timeline |
| Kangyue Technology |
| Guilin Seamild Foods |
Kangyue Technology and Guilin Seamild Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kangyue Technology and Guilin Seamild
The main advantage of trading using opposite Kangyue Technology and Guilin Seamild positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kangyue Technology position performs unexpectedly, Guilin Seamild 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 Guilin Seamild will offset losses from the drop in Guilin Seamild's long position.| Kangyue Technology vs. JCHX Mining Management | Kangyue Technology vs. Hygon Information Technology | Kangyue Technology vs. Tianjin Silvery Dragon | Kangyue Technology vs. Yonghui Superstores Co |
| Guilin Seamild vs. Yuanjie Semiconductor Technology | Guilin Seamild vs. Thinkon Semiconductor Jinzhou | Guilin Seamild vs. HUAQIN TECHNOLOGY LTD | Guilin Seamild vs. Digiwin Software Co |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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