Correlation Between Kunwu Jiuding and Bank of Suzhou
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By analyzing existing cross correlation between Kunwu Jiuding Investment and Bank of Suzhou, you can compare the effects of market volatilities on Kunwu Jiuding and Bank of Suzhou 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 Bank of Suzhou. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kunwu Jiuding and Bank of Suzhou.
Diversification Opportunities for Kunwu Jiuding and Bank of Suzhou
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Kunwu and Bank is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding Kunwu Jiuding Investment and Bank of Suzhou in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bank of Suzhou 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 Bank of Suzhou. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bank of Suzhou has no effect on the direction of Kunwu Jiuding i.e., Kunwu Jiuding and Bank of Suzhou go up and down completely randomly.
Pair Corralation between Kunwu Jiuding and Bank of Suzhou
Assuming the 90 days trading horizon Kunwu Jiuding Investment is expected to generate 1.73 times more return on investment than Bank of Suzhou. However, Kunwu Jiuding is 1.73 times more volatile than Bank of Suzhou. It trades about 0.16 of its potential returns per unit of risk. Bank of Suzhou is currently generating about -0.38 per unit of risk. If you would invest 1,288 in Kunwu Jiuding Investment on November 28, 2024 and sell it today you would earn a total of 61.00 from holding Kunwu Jiuding Investment or generate 4.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kunwu Jiuding Investment vs. Bank of Suzhou
Performance |
| Timeline |
| Kunwu Jiuding Investment |
| Bank of Suzhou |
Kunwu Jiuding and Bank of Suzhou Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kunwu Jiuding and Bank of Suzhou
The main advantage of trading using opposite Kunwu Jiuding and Bank of Suzhou positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kunwu Jiuding position performs unexpectedly, Bank of Suzhou 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 Bank of Suzhou will offset losses from the drop in Bank of Suzhou's long position.| Kunwu Jiuding vs. Changzhou Evergreen Technology | Kunwu Jiuding vs. Techshine Electronics Co | Kunwu Jiuding vs. Jiangxi Lianchuang Opto electronic | Kunwu Jiuding vs. Sihui Fuji Electronics |
| Bank of Suzhou vs. HUAQIN TECHNOLOGY LTD | Bank of Suzhou vs. Jiangsu Jinling Sports | Bank of Suzhou vs. Changzhou Evergreen Technology | Bank of Suzhou vs. Hubeiyichang Transportation 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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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