Correlation Between Kailong High and Chengdu Spaceon
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By analyzing existing cross correlation between Kailong High Technology and Chengdu Spaceon Electronics, you can compare the effects of market volatilities on Kailong High and Chengdu Spaceon 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 Kailong High with a short position of Chengdu Spaceon. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kailong High and Chengdu Spaceon.
Diversification Opportunities for Kailong High and Chengdu Spaceon
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kailong and Chengdu is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Kailong High Technology and Chengdu Spaceon Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Chengdu Spaceon Elec and Kailong High 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 Kailong High Technology are associated (or correlated) with Chengdu Spaceon. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chengdu Spaceon Elec has no effect on the direction of Kailong High i.e., Kailong High and Chengdu Spaceon go up and down completely randomly.
Pair Corralation between Kailong High and Chengdu Spaceon
If you would invest 1,480 in Kailong High Technology on October 18, 2024 and sell it today you would lose (312.00) from holding Kailong High Technology or give up 21.08% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Kailong High Technology vs. Chengdu Spaceon Electronics
Performance |
| Timeline |
| Kailong High Technology |
| Chengdu Spaceon Elec |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Kailong High and Chengdu Spaceon Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kailong High and Chengdu Spaceon
The main advantage of trading using opposite Kailong High and Chengdu Spaceon positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kailong High position performs unexpectedly, Chengdu Spaceon 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 Chengdu Spaceon will offset losses from the drop in Chengdu Spaceon's long position.| Kailong High vs. Suzhou Douson Drilling | Kailong High vs. ButOne Information Corp | Kailong High vs. Zhejiang Kingland Pipeline | Kailong High vs. Everjoy Health Group |
| Chengdu Spaceon vs. Digiwin Software Co | Chengdu Spaceon vs. Heren Health Co | Chengdu Spaceon vs. Soyea Technology Co | Chengdu Spaceon vs. Mingchen Health 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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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