Correlation Between Kunwu Jiuding and Oppein Home
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By analyzing existing cross correlation between Kunwu Jiuding Investment and Oppein Home Group, you can compare the effects of market volatilities on Kunwu Jiuding and Oppein Home 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 Oppein Home. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kunwu Jiuding and Oppein Home.
Diversification Opportunities for Kunwu Jiuding and Oppein Home
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Kunwu and Oppein is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Kunwu Jiuding Investment and Oppein Home Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Oppein Home Group 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 Oppein Home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Oppein Home Group has no effect on the direction of Kunwu Jiuding i.e., Kunwu Jiuding and Oppein Home go up and down completely randomly.
Pair Corralation between Kunwu Jiuding and Oppein Home
Assuming the 90 days trading horizon Kunwu Jiuding Investment is expected to under-perform the Oppein Home. But the stock apears to be less risky and, when comparing its historical volatility, Kunwu Jiuding Investment is 1.02 times less risky than Oppein Home. The stock trades about -0.05 of its potential returns per unit of risk. The Oppein Home Group is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 7,380 in Oppein Home Group on September 13, 2024 and sell it today you would earn a total of 185.00 from holding Oppein Home Group or generate 2.51% 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. Oppein Home Group
Performance |
| Timeline |
| Kunwu Jiuding Investment |
| Oppein Home Group |
Kunwu Jiuding and Oppein Home Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kunwu Jiuding and Oppein Home
The main advantage of trading using opposite Kunwu Jiuding and Oppein Home positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kunwu Jiuding position performs unexpectedly, Oppein Home 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 Oppein Home will offset losses from the drop in Oppein Home's long position.| Kunwu Jiuding vs. Kweichow Moutai Co | Kunwu Jiuding vs. NAURA Technology Group | Kunwu Jiuding vs. Zhejiang Orient Gene | Kunwu Jiuding vs. APT Medical |
| Oppein Home vs. TongFu Microelectronics Co | Oppein Home vs. Hangzhou Weiguang Electronic | Oppein Home vs. Xinya Electronic Co | Oppein Home vs. Integrated Electronic Systems |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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