Correlation Between Kunwu Jiuding and Wonders Information
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By analyzing existing cross correlation between Kunwu Jiuding Investment and Wonders Information, you can compare the effects of market volatilities on Kunwu Jiuding and Wonders Information 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 Wonders Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kunwu Jiuding and Wonders Information.
Diversification Opportunities for Kunwu Jiuding and Wonders Information
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Kunwu and Wonders is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding Kunwu Jiuding Investment and Wonders Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Wonders Information 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 Wonders Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Wonders Information has no effect on the direction of Kunwu Jiuding i.e., Kunwu Jiuding and Wonders Information go up and down completely randomly.
Pair Corralation between Kunwu Jiuding and Wonders Information
Assuming the 90 days trading horizon Kunwu Jiuding Investment is expected to generate 0.85 times more return on investment than Wonders Information. However, Kunwu Jiuding Investment is 1.18 times less risky than Wonders Information. It trades about 0.01 of its potential returns per unit of risk. Wonders Information is currently generating about 0.01 per unit of risk. If you would invest 1,671 in Kunwu Jiuding Investment on October 17, 2024 and sell it today you would lose (202.00) from holding Kunwu Jiuding Investment or give up 12.09% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kunwu Jiuding Investment vs. Wonders Information
Performance |
| Timeline |
| Kunwu Jiuding Investment |
| Wonders Information |
Kunwu Jiuding and Wonders Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kunwu Jiuding and Wonders Information
The main advantage of trading using opposite Kunwu Jiuding and Wonders Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kunwu Jiuding position performs unexpectedly, Wonders Information 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 Wonders Information will offset losses from the drop in Wonders Information'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 |
| Wonders Information vs. Zhongrun Resources Investment | Wonders Information vs. Kunwu Jiuding Investment | Wonders Information vs. Ningbo Ligong Online | Wonders Information vs. Vanfund Urban 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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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