Correlation Between Kidswant Children and Kunwu Jiuding
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By analyzing existing cross correlation between Kidswant Children Products and Kunwu Jiuding Investment, you can compare the effects of market volatilities on Kidswant Children and Kunwu Jiuding 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 Kidswant Children with a short position of Kunwu Jiuding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kidswant Children and Kunwu Jiuding.
Diversification Opportunities for Kidswant Children and Kunwu Jiuding
0.51 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Kidswant and Kunwu is 0.51. Overlapping area represents the amount of risk that can be diversified away by holding Kidswant Children Products and Kunwu Jiuding Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kunwu Jiuding Investment and Kidswant Children 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 Kidswant Children Products are associated (or correlated) with Kunwu Jiuding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kunwu Jiuding Investment has no effect on the direction of Kidswant Children i.e., Kidswant Children and Kunwu Jiuding go up and down completely randomly.
Pair Corralation between Kidswant Children and Kunwu Jiuding
Assuming the 90 days trading horizon Kidswant Children Products is expected to generate 1.01 times more return on investment than Kunwu Jiuding. However, Kidswant Children is 1.01 times more volatile than Kunwu Jiuding Investment. It trades about 0.01 of its potential returns per unit of risk. Kunwu Jiuding Investment is currently generating about 0.01 per unit of risk. If you would invest 1,283 in Kidswant Children Products on October 14, 2024 and sell it today you would lose (153.00) from holding Kidswant Children Products or give up 11.93% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kidswant Children Products vs. Kunwu Jiuding Investment
Performance |
| Timeline |
| Kidswant Children |
| Kunwu Jiuding Investment |
Kidswant Children and Kunwu Jiuding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kidswant Children and Kunwu Jiuding
The main advantage of trading using opposite Kidswant Children and Kunwu Jiuding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kidswant Children position performs unexpectedly, Kunwu Jiuding 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 Kunwu Jiuding will offset losses from the drop in Kunwu Jiuding's long position.| Kidswant Children vs. Tibet Huayu Mining | Kidswant Children vs. Guangdong Jingyi Metal | Kidswant Children vs. Zhengzhou Coal Mining | Kidswant Children vs. CareRay Digital Medical |
| Kunwu Jiuding vs. Kidswant Children Products | Kunwu Jiuding vs. Hygon Information Technology | Kunwu Jiuding vs. Sublime China Information | Kunwu Jiuding vs. Sanbo Hospital Management |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
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