Correlation Between Harvest Fund and Kingclean Electric
Specify exactly 2 symbols:
By analyzing existing cross correlation between Harvest Fund Management and Kingclean Electric Co, you can compare the effects of market volatilities on Harvest Fund and Kingclean Electric 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 Harvest Fund with a short position of Kingclean Electric. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Fund and Kingclean Electric.
Diversification Opportunities for Harvest Fund and Kingclean Electric
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Harvest and Kingclean is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Fund Management and Kingclean Electric Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kingclean Electric and Harvest Fund 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 Harvest Fund Management are associated (or correlated) with Kingclean Electric. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kingclean Electric has no effect on the direction of Harvest Fund i.e., Harvest Fund and Kingclean Electric go up and down completely randomly.
Pair Corralation between Harvest Fund and Kingclean Electric
Assuming the 90 days trading horizon Harvest Fund Management is expected to generate 0.26 times more return on investment than Kingclean Electric. However, Harvest Fund Management is 3.84 times less risky than Kingclean Electric. It trades about 0.04 of its potential returns per unit of risk. Kingclean Electric Co is currently generating about -0.17 per unit of risk. If you would invest 260.00 in Harvest Fund Management on August 29, 2024 and sell it today you would earn a total of 1.00 from holding Harvest Fund Management or generate 0.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Harvest Fund Management vs. Kingclean Electric Co
Performance |
| Timeline |
| Harvest Fund Management |
| Kingclean Electric |
Harvest Fund and Kingclean Electric Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Harvest Fund and Kingclean Electric
The main advantage of trading using opposite Harvest Fund and Kingclean Electric positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Fund position performs unexpectedly, Kingclean Electric 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 Kingclean Electric will offset losses from the drop in Kingclean Electric's long position.| Harvest Fund vs. Industrial and Commercial | Harvest Fund vs. Kweichow Moutai Co | Harvest Fund vs. Agricultural Bank of | Harvest Fund vs. China Mobile Limited |
| Kingclean Electric vs. Nanjing OLO Home | Kingclean Electric vs. Xilinmen Furniture Co | Kingclean Electric vs. Shandong Homey Aquatic | Kingclean Electric vs. Qumei Furniture Group |
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 Stocks Directory module to find actively traded stocks across global markets.
Other Complementary Tools
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Sign In To Macroaxis Sign in to explore Macroaxis' wealth optimization platform and fintech modules | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites |