Correlation Between Kunwu Jiuding and Henan Shuanghui
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By analyzing existing cross correlation between Kunwu Jiuding Investment and Henan Shuanghui Investment, you can compare the effects of market volatilities on Kunwu Jiuding and Henan Shuanghui 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 Kunwu Jiuding with a short position of Henan Shuanghui. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kunwu Jiuding and Henan Shuanghui.
Diversification Opportunities for Kunwu Jiuding and Henan Shuanghui
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Kunwu and Henan is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Kunwu Jiuding Investment and Henan Shuanghui Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Henan Shuanghui Inve and Kunwu Jiuding 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 Kunwu Jiuding Investment are associated (or correlated) with Henan Shuanghui. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Henan Shuanghui Inve has no effect on the direction of Kunwu Jiuding i.e., Kunwu Jiuding and Henan Shuanghui go up and down completely randomly.
Pair Corralation between Kunwu Jiuding and Henan Shuanghui
Assuming the 90 days trading horizon Kunwu Jiuding Investment is expected to generate 3.84 times more return on investment than Henan Shuanghui. However, Kunwu Jiuding is 3.84 times more volatile than Henan Shuanghui Investment. It trades about -0.04 of its potential returns per unit of risk. Henan Shuanghui Investment is currently generating about -0.2 per unit of risk. If you would invest 1,500 in Kunwu Jiuding Investment on October 25, 2024 and sell it today you would lose (60.00) from holding Kunwu Jiuding Investment or give up 4.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.45% |
| Values | Daily Returns |
Kunwu Jiuding Investment vs. Henan Shuanghui Investment
Performance |
| Timeline |
| Kunwu Jiuding Investment |
| Henan Shuanghui Inve |
Kunwu Jiuding and Henan Shuanghui Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kunwu Jiuding and Henan Shuanghui
The main advantage of trading using opposite Kunwu Jiuding and Henan Shuanghui positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kunwu Jiuding position performs unexpectedly, Henan Shuanghui 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 Henan Shuanghui will offset losses from the drop in Henan Shuanghui's long position.| Kunwu Jiuding vs. Gansu Jiu Steel | Kunwu Jiuding vs. Ming Yang Smart | Kunwu Jiuding vs. Aba Chemicals Corp | Kunwu Jiuding vs. Loctek Ergonomic Technology |
| Henan Shuanghui vs. XiaMen HongXin Electron tech | Henan Shuanghui vs. Dhc Software Co | Henan Shuanghui vs. Montage Technology Co | Henan Shuanghui vs. Changchun UP Optotech |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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