Correlation Between Kunwu Jiuding and StarPower Semiconductor
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By analyzing existing cross correlation between Kunwu Jiuding Investment and StarPower Semiconductor, you can compare the effects of market volatilities on Kunwu Jiuding and StarPower Semiconductor 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 StarPower Semiconductor. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kunwu Jiuding and StarPower Semiconductor.
Diversification Opportunities for Kunwu Jiuding and StarPower Semiconductor
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Kunwu and StarPower is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding Kunwu Jiuding Investment and StarPower Semiconductor in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on StarPower Semiconductor 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 StarPower Semiconductor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of StarPower Semiconductor has no effect on the direction of Kunwu Jiuding i.e., Kunwu Jiuding and StarPower Semiconductor go up and down completely randomly.
Pair Corralation between Kunwu Jiuding and StarPower Semiconductor
Assuming the 90 days trading horizon Kunwu Jiuding Investment is expected to under-perform the StarPower Semiconductor. In addition to that, Kunwu Jiuding is 2.48 times more volatile than StarPower Semiconductor. It trades about -0.04 of its total potential returns per unit of risk. StarPower Semiconductor is currently generating about -0.08 per unit of volatility. If you would invest 8,637 in StarPower Semiconductor on November 3, 2024 and sell it today you would lose (237.00) from holding StarPower Semiconductor or give up 2.74% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kunwu Jiuding Investment vs. StarPower Semiconductor
Performance |
| Timeline |
| Kunwu Jiuding Investment |
| StarPower Semiconductor |
Kunwu Jiuding and StarPower Semiconductor Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kunwu Jiuding and StarPower Semiconductor
The main advantage of trading using opposite Kunwu Jiuding and StarPower Semiconductor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kunwu Jiuding position performs unexpectedly, StarPower Semiconductor 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 StarPower Semiconductor will offset losses from the drop in StarPower Semiconductor's long position.| Kunwu Jiuding vs. Jiamei Food Packaging | Kunwu Jiuding vs. Jiajia Food Group | Kunwu Jiuding vs. V V Food | Kunwu Jiuding vs. JuneYao Dairy Co |
| StarPower Semiconductor vs. Fujian Boss Software | StarPower Semiconductor vs. Guangzhou Restaurants Group | StarPower Semiconductor vs. HaiXin Foods Co | StarPower Semiconductor vs. Beijing Baolande Software |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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