Correlation Between Kangping Technology and Lander Sports
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By analyzing existing cross correlation between Kangping Technology Co and Lander Sports Development, you can compare the effects of market volatilities on Kangping Technology and Lander Sports 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 Kangping Technology with a short position of Lander Sports. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kangping Technology and Lander Sports.
Diversification Opportunities for Kangping Technology and Lander Sports
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Kangping and Lander is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Kangping Technology Co and Lander Sports Development in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lander Sports Development and Kangping 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 Kangping Technology Co are associated (or correlated) with Lander Sports. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lander Sports Development has no effect on the direction of Kangping Technology i.e., Kangping Technology and Lander Sports go up and down completely randomly.
Pair Corralation between Kangping Technology and Lander Sports
Assuming the 90 days trading horizon Kangping Technology Co is expected to generate 1.18 times more return on investment than Lander Sports. However, Kangping Technology is 1.18 times more volatile than Lander Sports Development. It trades about 0.03 of its potential returns per unit of risk. Lander Sports Development is currently generating about 0.01 per unit of risk. If you would invest 1,865 in Kangping Technology Co on August 26, 2024 and sell it today you would earn a total of 399.00 from holding Kangping Technology Co or generate 21.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kangping Technology Co vs. Lander Sports Development
Performance |
| Timeline |
| Kangping Technology |
| Lander Sports Development |
Kangping Technology and Lander Sports Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kangping Technology and Lander Sports
The main advantage of trading using opposite Kangping Technology and Lander Sports positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kangping Technology position performs unexpectedly, Lander Sports 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 Lander Sports will offset losses from the drop in Lander Sports' long position.| Kangping Technology vs. Kweichow Moutai Co | Kangping Technology vs. Shenzhen Mindray Bio Medical | Kangping Technology vs. Jiangsu Pacific Quartz | Kangping Technology vs. G bits Network Technology |
| Lander Sports vs. Shuhua Sports Co | Lander Sports vs. Zhongrun Resources Investment | Lander Sports vs. Guangdong Advertising Co | Lander Sports vs. Nuode 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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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