Correlation Between Kunwu Jiuding and Loctek Ergonomic
Specify exactly 2 symbols:
By analyzing existing cross correlation between Kunwu Jiuding Investment and Loctek Ergonomic Technology, you can compare the effects of market volatilities on Kunwu Jiuding and Loctek Ergonomic 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 Loctek Ergonomic. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kunwu Jiuding and Loctek Ergonomic.
Diversification Opportunities for Kunwu Jiuding and Loctek Ergonomic
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Kunwu and Loctek is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding Kunwu Jiuding Investment and Loctek Ergonomic Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Loctek Ergonomic Tec 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 Loctek Ergonomic. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Loctek Ergonomic Tec has no effect on the direction of Kunwu Jiuding i.e., Kunwu Jiuding and Loctek Ergonomic go up and down completely randomly.
Pair Corralation between Kunwu Jiuding and Loctek Ergonomic
Assuming the 90 days trading horizon Kunwu Jiuding is expected to generate 1.43 times less return on investment than Loctek Ergonomic. In addition to that, Kunwu Jiuding is 1.18 times more volatile than Loctek Ergonomic Technology. It trades about 0.11 of its total potential returns per unit of risk. Loctek Ergonomic Technology is currently generating about 0.19 per unit of volatility. If you would invest 1,589 in Loctek Ergonomic Technology on September 5, 2024 and sell it today you would earn a total of 169.00 from holding Loctek Ergonomic Technology or generate 10.64% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kunwu Jiuding Investment vs. Loctek Ergonomic Technology
Performance |
| Timeline |
| Kunwu Jiuding Investment |
| Loctek Ergonomic Tec |
Kunwu Jiuding and Loctek Ergonomic Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kunwu Jiuding and Loctek Ergonomic
The main advantage of trading using opposite Kunwu Jiuding and Loctek Ergonomic positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kunwu Jiuding position performs unexpectedly, Loctek Ergonomic 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 Loctek Ergonomic will offset losses from the drop in Loctek Ergonomic's long position.| Kunwu Jiuding vs. Industrial and Commercial | Kunwu Jiuding vs. Agricultural Bank of | Kunwu Jiuding vs. China Construction Bank | Kunwu Jiuding vs. Bank of China |
| Loctek Ergonomic vs. Nuode Investment Co | Loctek Ergonomic vs. Metro Investment Development | Loctek Ergonomic vs. Kunwu Jiuding Investment | Loctek Ergonomic vs. Glodon Software Co |
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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
Other Complementary Tools
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Stocks Directory Find actively traded stocks across global markets | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes |