Correlation Between Kangyue Technology and Bosera CMSK
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By analyzing existing cross correlation between Kangyue Technology Co and Bosera CMSK Industrial, you can compare the effects of market volatilities on Kangyue Technology and Bosera CMSK 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 Bosera CMSK. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kangyue Technology and Bosera CMSK.
Diversification Opportunities for Kangyue Technology and Bosera CMSK
-0.77 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kangyue and Bosera is -0.77. Overlapping area represents the amount of risk that can be diversified away by holding Kangyue Technology Co and Bosera CMSK Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bosera CMSK Industrial 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 Bosera CMSK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bosera CMSK Industrial has no effect on the direction of Kangyue Technology i.e., Kangyue Technology and Bosera CMSK go up and down completely randomly.
Pair Corralation between Kangyue Technology and Bosera CMSK
Assuming the 90 days trading horizon Kangyue Technology Co is expected to under-perform the Bosera CMSK. In addition to that, Kangyue Technology is 3.16 times more volatile than Bosera CMSK Industrial. It trades about -0.29 of its total potential returns per unit of risk. Bosera CMSK Industrial is currently generating about 0.38 per unit of volatility. If you would invest 199.00 in Bosera CMSK Industrial on October 24, 2024 and sell it today you would earn a total of 18.00 from holding Bosera CMSK Industrial or generate 9.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kangyue Technology Co vs. Bosera CMSK Industrial
Performance |
| Timeline |
| Kangyue Technology |
| Bosera CMSK Industrial |
Kangyue Technology and Bosera CMSK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kangyue Technology and Bosera CMSK
The main advantage of trading using opposite Kangyue Technology and Bosera CMSK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kangyue Technology position performs unexpectedly, Bosera CMSK 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 Bosera CMSK will offset losses from the drop in Bosera CMSK's long position.| Kangyue Technology vs. Bosera CMSK Industrial | Kangyue Technology vs. Allwin Telecommunication Co | Kangyue Technology vs. Beijing Bewinner Communications | Kangyue Technology vs. Qingdao Choho Industrial |
| Bosera CMSK vs. JCHX Mining Management | Bosera CMSK vs. Zhejiang Construction Investment | Bosera CMSK vs. Henan Shuanghui Investment | Bosera CMSK vs. Xiandai Investment 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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