Correlation Between Guangxi Wuzhou and Keeson Technology
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By analyzing existing cross correlation between Guangxi Wuzhou Communications and Keeson Technology Corp, you can compare the effects of market volatilities on Guangxi Wuzhou and Keeson Technology 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 Guangxi Wuzhou with a short position of Keeson Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Guangxi Wuzhou and Keeson Technology.
Diversification Opportunities for Guangxi Wuzhou and Keeson Technology
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Guangxi and Keeson is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Guangxi Wuzhou Communications and Keeson Technology Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Keeson Technology Corp and Guangxi Wuzhou 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 Guangxi Wuzhou Communications are associated (or correlated) with Keeson Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Keeson Technology Corp has no effect on the direction of Guangxi Wuzhou i.e., Guangxi Wuzhou and Keeson Technology go up and down completely randomly.
Pair Corralation between Guangxi Wuzhou and Keeson Technology
Assuming the 90 days trading horizon Guangxi Wuzhou Communications is expected to generate 0.87 times more return on investment than Keeson Technology. However, Guangxi Wuzhou Communications is 1.15 times less risky than Keeson Technology. It trades about 0.03 of its potential returns per unit of risk. Keeson Technology Corp is currently generating about 0.0 per unit of risk. If you would invest 342.00 in Guangxi Wuzhou Communications on October 16, 2024 and sell it today you would earn a total of 97.00 from holding Guangxi Wuzhou Communications or generate 28.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Guangxi Wuzhou Communications vs. Keeson Technology Corp
Performance |
| Timeline |
| Guangxi Wuzhou Commu |
| Keeson Technology Corp |
Guangxi Wuzhou and Keeson Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Guangxi Wuzhou and Keeson Technology
The main advantage of trading using opposite Guangxi Wuzhou and Keeson Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Guangxi Wuzhou position performs unexpectedly, Keeson Technology 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 Keeson Technology will offset losses from the drop in Keeson Technology's long position.| Guangxi Wuzhou vs. Anhui Jianghuai Automobile | Guangxi Wuzhou vs. Songz Automobile Air | Guangxi Wuzhou vs. Fiberhome Telecommunication Technologies | Guangxi Wuzhou vs. Huizhou Speed Wireless |
| Keeson Technology vs. Qilu Bank Co | Keeson Technology vs. Guangxi Wuzhou Communications | Keeson Technology vs. Ningbo Tech Bank Co | Keeson Technology vs. Lecron Energy Saving |
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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