Correlation Between Kunwu Jiuding and Grandblue Environment
Specify exactly 2 symbols:
By analyzing existing cross correlation between Kunwu Jiuding Investment and Grandblue Environment Co, you can compare the effects of market volatilities on Kunwu Jiuding and Grandblue Environment 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 Grandblue Environment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kunwu Jiuding and Grandblue Environment.
Diversification Opportunities for Kunwu Jiuding and Grandblue Environment
0.68 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Kunwu and Grandblue is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding Kunwu Jiuding Investment and Grandblue Environment Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Grandblue Environment 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 Grandblue Environment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Grandblue Environment has no effect on the direction of Kunwu Jiuding i.e., Kunwu Jiuding and Grandblue Environment go up and down completely randomly.
Pair Corralation between Kunwu Jiuding and Grandblue Environment
Assuming the 90 days trading horizon Kunwu Jiuding Investment is expected to under-perform the Grandblue Environment. In addition to that, Kunwu Jiuding is 1.63 times more volatile than Grandblue Environment Co. It trades about -0.03 of its total potential returns per unit of risk. Grandblue Environment Co is currently generating about 0.13 per unit of volatility. If you would invest 2,222 in Grandblue Environment Co on September 21, 2024 and sell it today you would earn a total of 89.00 from holding Grandblue Environment Co or generate 4.01% 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. Grandblue Environment Co
Performance |
| Timeline |
| Kunwu Jiuding Investment |
| Grandblue Environment |
Kunwu Jiuding and Grandblue Environment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kunwu Jiuding and Grandblue Environment
The main advantage of trading using opposite Kunwu Jiuding and Grandblue Environment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kunwu Jiuding position performs unexpectedly, Grandblue Environment 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 Grandblue Environment will offset losses from the drop in Grandblue Environment's long position.| Kunwu Jiuding vs. Ningbo Construction Co | Kunwu Jiuding vs. Shanghai Construction Group | Kunwu Jiuding vs. Hunan Tyen Machinery | Kunwu Jiuding vs. Hefei Metalforming Mach |
| Grandblue Environment vs. Luyin Investment Group | Grandblue Environment vs. Kunwu Jiuding Investment | Grandblue Environment vs. Shanxi Lanhua Sci Tech | Grandblue Environment vs. Chengdu Xingrong 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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Other Complementary Tools
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings |