Correlation Between Keda Clean and Lushang Property
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By analyzing existing cross correlation between Keda Clean Energy and Lushang Property Co, you can compare the effects of market volatilities on Keda Clean and Lushang Property 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 Keda Clean with a short position of Lushang Property. Check out your portfolio center. Please also check ongoing floating volatility patterns of Keda Clean and Lushang Property.
Diversification Opportunities for Keda Clean and Lushang Property
-0.32 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Keda and Lushang is -0.32. Overlapping area represents the amount of risk that can be diversified away by holding Keda Clean Energy and Lushang Property Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lushang Property and Keda Clean 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 Keda Clean Energy are associated (or correlated) with Lushang Property. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lushang Property has no effect on the direction of Keda Clean i.e., Keda Clean and Lushang Property go up and down completely randomly.
Pair Corralation between Keda Clean and Lushang Property
Assuming the 90 days trading horizon Keda Clean Energy is expected to generate 0.6 times more return on investment than Lushang Property. However, Keda Clean Energy is 1.67 times less risky than Lushang Property. It trades about 0.1 of its potential returns per unit of risk. Lushang Property Co is currently generating about -0.16 per unit of risk. If you would invest 800.00 in Keda Clean Energy on October 29, 2024 and sell it today you would earn a total of 22.00 from holding Keda Clean Energy or generate 2.75% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Keda Clean Energy vs. Lushang Property Co
Performance |
| Timeline |
| Keda Clean Energy |
| Lushang Property |
Keda Clean and Lushang Property Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Keda Clean and Lushang Property
The main advantage of trading using opposite Keda Clean and Lushang Property positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Keda Clean position performs unexpectedly, Lushang Property 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 Lushang Property will offset losses from the drop in Lushang Property's long position.| Keda Clean vs. Strait Innovation Internet | Keda Clean vs. Beijing Seeyon Internet | Keda Clean vs. Jilin Jlu Communication | Keda Clean vs. Healthcare Co |
| Lushang Property vs. Hainan Mining Co | Lushang Property vs. Tibet Huayu Mining | Lushang Property vs. Zhangjiagang Freetrade Science | Lushang Property vs. Anhui Jinhe Industrial |
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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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