Correlation Between Tianjin Ruixin and Keeson Technology
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By analyzing existing cross correlation between Tianjin Ruixin Technology and Keeson Technology Corp, you can compare the effects of market volatilities on Tianjin Ruixin 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 Tianjin Ruixin with a short position of Keeson Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tianjin Ruixin and Keeson Technology.
Diversification Opportunities for Tianjin Ruixin and Keeson Technology
0.56 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Tianjin and Keeson is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding Tianjin Ruixin Technology 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 Tianjin Ruixin 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 Tianjin Ruixin Technology 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 Tianjin Ruixin i.e., Tianjin Ruixin and Keeson Technology go up and down completely randomly.
Pair Corralation between Tianjin Ruixin and Keeson Technology
Assuming the 90 days trading horizon Tianjin Ruixin Technology is expected to generate 1.34 times more return on investment than Keeson Technology. However, Tianjin Ruixin is 1.34 times more volatile than Keeson Technology Corp. It trades about 0.02 of its potential returns per unit of risk. Keeson Technology Corp is currently generating about 0.0 per unit of risk. If you would invest 1,468 in Tianjin Ruixin Technology on November 2, 2024 and sell it today you would lose (19.00) from holding Tianjin Ruixin Technology or give up 1.29% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Tianjin Ruixin Technology vs. Keeson Technology Corp
Performance |
| Timeline |
| Tianjin Ruixin Technology |
| Keeson Technology Corp |
Tianjin Ruixin and Keeson Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Tianjin Ruixin and Keeson Technology
The main advantage of trading using opposite Tianjin Ruixin and Keeson Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tianjin Ruixin 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.| Tianjin Ruixin vs. Air China Ltd | Tianjin Ruixin vs. Nanjing Putian Telecommunications | Tianjin Ruixin vs. Youyou Foods Co | Tianjin Ruixin vs. Quectel Wireless Solutions |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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