Correlation Between Keda Clean and Postal Savings
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By analyzing existing cross correlation between Keda Clean Energy and Postal Savings Bank, you can compare the effects of market volatilities on Keda Clean and Postal Savings 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 Postal Savings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Keda Clean and Postal Savings.
Diversification Opportunities for Keda Clean and Postal Savings
-0.4 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Keda and Postal is -0.4. Overlapping area represents the amount of risk that can be diversified away by holding Keda Clean Energy and Postal Savings Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Postal Savings Bank 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 Postal Savings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Postal Savings Bank has no effect on the direction of Keda Clean i.e., Keda Clean and Postal Savings go up and down completely randomly.
Pair Corralation between Keda Clean and Postal Savings
Assuming the 90 days trading horizon Keda Clean Energy is expected to under-perform the Postal Savings. In addition to that, Keda Clean is 1.31 times more volatile than Postal Savings Bank. It trades about -0.05 of its total potential returns per unit of risk. Postal Savings Bank is currently generating about 0.03 per unit of volatility. If you would invest 467.00 in Postal Savings Bank on November 3, 2024 and sell it today you would earn a total of 74.00 from holding Postal Savings Bank or generate 15.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Keda Clean Energy vs. Postal Savings Bank
Performance |
| Timeline |
| Keda Clean Energy |
| Postal Savings Bank |
Keda Clean and Postal Savings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Keda Clean and Postal Savings
The main advantage of trading using opposite Keda Clean and Postal Savings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Keda Clean position performs unexpectedly, Postal Savings 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 Postal Savings will offset losses from the drop in Postal Savings' long position.| Keda Clean vs. Queclink Wireless Solutions | Keda Clean vs. Dawning Information Industry | Keda Clean vs. Eastern Communications Co | Keda Clean vs. Jinling Hotel Corp |
| Postal Savings vs. Chengtun Mining Group | Postal Savings vs. Malion New Materials | Postal Savings vs. Guocheng Mining Co | Postal Savings vs. Shanghai Yanpu Metal |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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