Correlation Between Kunwu Jiuding and China Asset
Specify exactly 2 symbols:
By analyzing existing cross correlation between Kunwu Jiuding Investment and China Asset Management, you can compare the effects of market volatilities on Kunwu Jiuding and China Asset 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 China Asset. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kunwu Jiuding and China Asset.
Diversification Opportunities for Kunwu Jiuding and China Asset
-0.74 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kunwu and China is -0.74. Overlapping area represents the amount of risk that can be diversified away by holding Kunwu Jiuding Investment and China Asset Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Asset Management 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 China Asset. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Asset Management has no effect on the direction of Kunwu Jiuding i.e., Kunwu Jiuding and China Asset go up and down completely randomly.
Pair Corralation between Kunwu Jiuding and China Asset
Assuming the 90 days trading horizon Kunwu Jiuding Investment is expected to under-perform the China Asset. In addition to that, Kunwu Jiuding is 3.61 times more volatile than China Asset Management. It trades about -0.04 of its total potential returns per unit of risk. China Asset Management is currently generating about 0.57 per unit of volatility. If you would invest 353.00 in China Asset Management on October 25, 2024 and sell it today you would earn a total of 44.00 from holding China Asset Management or generate 12.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kunwu Jiuding Investment vs. China Asset Management
Performance |
| Timeline |
| Kunwu Jiuding Investment |
| China Asset Management |
Kunwu Jiuding and China Asset Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kunwu Jiuding and China Asset
The main advantage of trading using opposite Kunwu Jiuding and China Asset positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kunwu Jiuding position performs unexpectedly, China Asset 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 China Asset will offset losses from the drop in China Asset's long position.| Kunwu Jiuding vs. Gansu Jiu Steel | Kunwu Jiuding vs. Ming Yang Smart | Kunwu Jiuding vs. Aba Chemicals Corp | Kunwu Jiuding vs. Loctek Ergonomic Technology |
| China Asset vs. Industrial and Commercial | China Asset vs. Kweichow Moutai Co | China Asset vs. Agricultural Bank of | China Asset vs. China Mobile Limited |
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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
Other Complementary Tools
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Transaction History View history of all your transactions and understand their impact on performance | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing |