Correlation Between SI TECH and Kweichow Moutai
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By analyzing existing cross correlation between SI TECH Information Technology and Kweichow Moutai Co, you can compare the effects of market volatilities on SI TECH and Kweichow Moutai 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 SI TECH with a short position of Kweichow Moutai. Check out your portfolio center. Please also check ongoing floating volatility patterns of SI TECH and Kweichow Moutai.
Diversification Opportunities for SI TECH and Kweichow Moutai
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between 300608 and Kweichow is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding SI TECH Information Technology and Kweichow Moutai Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kweichow Moutai and SI TECH 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 SI TECH Information Technology are associated (or correlated) with Kweichow Moutai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kweichow Moutai has no effect on the direction of SI TECH i.e., SI TECH and Kweichow Moutai go up and down completely randomly.
Pair Corralation between SI TECH and Kweichow Moutai
Assuming the 90 days trading horizon SI TECH Information Technology is expected to under-perform the Kweichow Moutai. In addition to that, SI TECH is 3.28 times more volatile than Kweichow Moutai Co. It trades about -0.11 of its total potential returns per unit of risk. Kweichow Moutai Co is currently generating about 0.03 per unit of volatility. If you would invest 151,800 in Kweichow Moutai Co on September 29, 2024 and sell it today you would earn a total of 1,097 from holding Kweichow Moutai Co or generate 0.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
SI TECH Information Technology vs. Kweichow Moutai Co
Performance |
| Timeline |
| SI TECH Information |
| Kweichow Moutai |
SI TECH and Kweichow Moutai Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with SI TECH and Kweichow Moutai
The main advantage of trading using opposite SI TECH and Kweichow Moutai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if SI TECH position performs unexpectedly, Kweichow Moutai 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 Kweichow Moutai will offset losses from the drop in Kweichow Moutai's long position.| SI TECH vs. Guangdong Marubi Biotechnology | SI TECH vs. Uroica Mining Safety | SI TECH vs. Maccura Biotechnology Co | SI TECH vs. Hefei Metalforming Mach |
| Kweichow Moutai vs. Wasu Media Holding | Kweichow Moutai vs. Tongyu Communication | Kweichow Moutai vs. Runjian Communication Co | Kweichow Moutai vs. Shuhua Sports 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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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