Correlation Between Kangping Technology and Sichuan Yahua
Specify exactly 2 symbols:
By analyzing existing cross correlation between Kangping Technology Co and Sichuan Yahua Industrial, you can compare the effects of market volatilities on Kangping Technology and Sichuan Yahua 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 Sichuan Yahua. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kangping Technology and Sichuan Yahua.
Diversification Opportunities for Kangping Technology and Sichuan Yahua
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Kangping and Sichuan is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding Kangping Technology Co and Sichuan Yahua Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sichuan Yahua Industrial 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 Sichuan Yahua. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sichuan Yahua Industrial has no effect on the direction of Kangping Technology i.e., Kangping Technology and Sichuan Yahua go up and down completely randomly.
Pair Corralation between Kangping Technology and Sichuan Yahua
Assuming the 90 days trading horizon Kangping Technology Co is expected to generate 1.38 times more return on investment than Sichuan Yahua. However, Kangping Technology is 1.38 times more volatile than Sichuan Yahua Industrial. It trades about 0.03 of its potential returns per unit of risk. Sichuan Yahua Industrial is currently generating about 0.0 per unit of risk. If you would invest 2,101 in Kangping Technology Co on August 25, 2024 and sell it today you would earn a total of 163.00 from holding Kangping Technology Co or generate 7.76% 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. Sichuan Yahua Industrial
Performance |
| Timeline |
| Kangping Technology |
| Sichuan Yahua Industrial |
Kangping Technology and Sichuan Yahua Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kangping Technology and Sichuan Yahua
The main advantage of trading using opposite Kangping Technology and Sichuan Yahua positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kangping Technology position performs unexpectedly, Sichuan Yahua 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 Sichuan Yahua will offset losses from the drop in Sichuan Yahua's 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 |
| Sichuan Yahua vs. Changchun UP Optotech | Sichuan Yahua vs. Anhui Deli Household | Sichuan Yahua vs. Kangping Technology Co | Sichuan Yahua vs. CGN Nuclear Technology |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
Other Complementary Tools
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Stocks Directory Find actively traded stocks across global markets | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing |