Correlation Between Kidswant Children and Cinda Securities
Specify exactly 2 symbols:
By analyzing existing cross correlation between Kidswant Children Products and Cinda Securities Co, you can compare the effects of market volatilities on Kidswant Children and Cinda Securities 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 Cinda Securities. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kidswant Children and Cinda Securities.
Diversification Opportunities for Kidswant Children and Cinda Securities
0.19 | Correlation Coefficient |
Average diversification
The 3 months correlation between Kidswant and Cinda is 0.19. Overlapping area represents the amount of risk that can be diversified away by holding Kidswant Children Products and Cinda Securities Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cinda Securities 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 Cinda Securities. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cinda Securities has no effect on the direction of Kidswant Children i.e., Kidswant Children and Cinda Securities go up and down completely randomly.
Pair Corralation between Kidswant Children and Cinda Securities
Assuming the 90 days trading horizon Kidswant Children is expected to generate 2.59 times less return on investment than Cinda Securities. In addition to that, Kidswant Children is 1.08 times more volatile than Cinda Securities Co. It trades about 0.01 of its total potential returns per unit of risk. Cinda Securities Co is currently generating about 0.02 per unit of volatility. If you would invest 1,179 in Cinda Securities Co on October 16, 2024 and sell it today you would earn a total of 167.00 from holding Cinda Securities Co or generate 14.16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 99.58% |
| Values | Daily Returns |
Kidswant Children Products vs. Cinda Securities Co
Performance |
| Timeline |
| Kidswant Children |
| Cinda Securities |
Kidswant Children and Cinda Securities Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kidswant Children and Cinda Securities
The main advantage of trading using opposite Kidswant Children and Cinda Securities positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kidswant Children position performs unexpectedly, Cinda Securities 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 Cinda Securities will offset losses from the drop in Cinda Securities' long position.| Kidswant Children vs. Ningbo Jintian Copper | Kidswant Children vs. Tsingtao Brewery Co | Kidswant Children vs. Baoshan Iron Steel | Kidswant Children vs. Guangdong Liantai Environmental |
| Cinda Securities vs. Nanxing Furniture Machinery | Cinda Securities vs. Masterwork Machinery | Cinda Securities vs. Zhejiang Yinlun Machinery | Cinda Securities vs. Kidswant Children Products |
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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
Other Complementary Tools
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios |