Correlation Between Kunwu Jiuding and Gifore Agricultural
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By analyzing existing cross correlation between Kunwu Jiuding Investment and Gifore Agricultural Machinery, you can compare the effects of market volatilities on Kunwu Jiuding and Gifore Agricultural 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 Gifore Agricultural. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kunwu Jiuding and Gifore Agricultural.
Diversification Opportunities for Kunwu Jiuding and Gifore Agricultural
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between Kunwu and Gifore is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding Kunwu Jiuding Investment and Gifore Agricultural Machinery in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gifore Agricultural 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 Gifore Agricultural. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gifore Agricultural has no effect on the direction of Kunwu Jiuding i.e., Kunwu Jiuding and Gifore Agricultural go up and down completely randomly.
Pair Corralation between Kunwu Jiuding and Gifore Agricultural
Assuming the 90 days trading horizon Kunwu Jiuding Investment is expected to under-perform the Gifore Agricultural. But the stock apears to be less risky and, when comparing its historical volatility, Kunwu Jiuding Investment is 1.36 times less risky than Gifore Agricultural. The stock trades about -0.22 of its potential returns per unit of risk. The Gifore Agricultural Machinery is currently generating about -0.03 of returns per unit of risk over similar time horizon. If you would invest 495.00 in Gifore Agricultural Machinery on October 12, 2024 and sell it today you would lose (33.00) from holding Gifore Agricultural Machinery or give up 6.67% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kunwu Jiuding Investment vs. Gifore Agricultural Machinery
Performance |
| Timeline |
| Kunwu Jiuding Investment |
| Gifore Agricultural |
Kunwu Jiuding and Gifore Agricultural Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kunwu Jiuding and Gifore Agricultural
The main advantage of trading using opposite Kunwu Jiuding and Gifore Agricultural positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kunwu Jiuding position performs unexpectedly, Gifore Agricultural 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 Gifore Agricultural will offset losses from the drop in Gifore Agricultural's long position.| Kunwu Jiuding vs. New Hope Dairy | Kunwu Jiuding vs. JuneYao Dairy Co | Kunwu Jiuding vs. Bohai Leasing Co | Kunwu Jiuding vs. Qingdao Foods Co |
| Gifore Agricultural vs. BTG Hotels Group | Gifore Agricultural vs. Cultural Investment Holdings | Gifore Agricultural vs. Kunwu Jiuding Investment | Gifore Agricultural vs. Shanghai Yanpu Metal |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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