Correlation Between Kunwu Jiuding and Beijing Cisri
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By analyzing existing cross correlation between Kunwu Jiuding Investment and Beijing Cisri Gaona, you can compare the effects of market volatilities on Kunwu Jiuding and Beijing Cisri 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 Beijing Cisri. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kunwu Jiuding and Beijing Cisri.
Diversification Opportunities for Kunwu Jiuding and Beijing Cisri
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Kunwu and Beijing is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding Kunwu Jiuding Investment and Beijing Cisri Gaona in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing Cisri Gaona 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 Beijing Cisri. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing Cisri Gaona has no effect on the direction of Kunwu Jiuding i.e., Kunwu Jiuding and Beijing Cisri go up and down completely randomly.
Pair Corralation between Kunwu Jiuding and Beijing Cisri
Assuming the 90 days trading horizon Kunwu Jiuding Investment is expected to generate 1.24 times more return on investment than Beijing Cisri. However, Kunwu Jiuding is 1.24 times more volatile than Beijing Cisri Gaona. It trades about 0.02 of its potential returns per unit of risk. Beijing Cisri Gaona is currently generating about 0.01 per unit of risk. If you would invest 1,491 in Kunwu Jiuding Investment on October 17, 2024 and sell it today you would earn a total of 34.00 from holding Kunwu Jiuding Investment or generate 2.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kunwu Jiuding Investment vs. Beijing Cisri Gaona
Performance |
| Timeline |
| Kunwu Jiuding Investment |
| Beijing Cisri Gaona |
Kunwu Jiuding and Beijing Cisri Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kunwu Jiuding and Beijing Cisri
The main advantage of trading using opposite Kunwu Jiuding and Beijing Cisri positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kunwu Jiuding position performs unexpectedly, Beijing Cisri 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 Beijing Cisri will offset losses from the drop in Beijing Cisri's long position.| Kunwu Jiuding vs. Great Sun Foods Co | Kunwu Jiuding vs. Ligao Foods CoLtd | Kunwu Jiuding vs. Anji Foodstuff Co | Kunwu Jiuding vs. Shenzhen Kexin Communication |
| Beijing Cisri vs. Tieling Newcity Investment | Beijing Cisri vs. Chengdu Xingrong Investment | Beijing Cisri vs. Kunwu Jiuding Investment | Beijing Cisri vs. Zoje Resources Investment |
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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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