Correlation Between Kweichow Moutai and Allwin Telecommunicatio
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By analyzing existing cross correlation between Kweichow Moutai Co and Allwin Telecommunication Co, you can compare the effects of market volatilities on Kweichow Moutai and Allwin Telecommunicatio 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 Kweichow Moutai with a short position of Allwin Telecommunicatio. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kweichow Moutai and Allwin Telecommunicatio.
Diversification Opportunities for Kweichow Moutai and Allwin Telecommunicatio
0.48 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Kweichow and Allwin is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding Kweichow Moutai Co and Allwin Telecommunication Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Allwin Telecommunicatio and Kweichow Moutai 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 Kweichow Moutai Co are associated (or correlated) with Allwin Telecommunicatio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Allwin Telecommunicatio has no effect on the direction of Kweichow Moutai i.e., Kweichow Moutai and Allwin Telecommunicatio go up and down completely randomly.
Pair Corralation between Kweichow Moutai and Allwin Telecommunicatio
Assuming the 90 days trading horizon Kweichow Moutai Co is expected to generate 0.32 times more return on investment than Allwin Telecommunicatio. However, Kweichow Moutai Co is 3.16 times less risky than Allwin Telecommunicatio. It trades about -0.17 of its potential returns per unit of risk. Allwin Telecommunication Co is currently generating about -0.15 per unit of risk. If you would invest 152,645 in Kweichow Moutai Co on October 23, 2024 and sell it today you would lose (5,830) from holding Kweichow Moutai Co or give up 3.82% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kweichow Moutai Co vs. Allwin Telecommunication Co
Performance |
| Timeline |
| Kweichow Moutai |
| Allwin Telecommunicatio |
Kweichow Moutai and Allwin Telecommunicatio Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kweichow Moutai and Allwin Telecommunicatio
The main advantage of trading using opposite Kweichow Moutai and Allwin Telecommunicatio positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kweichow Moutai position performs unexpectedly, Allwin Telecommunicatio 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 Allwin Telecommunicatio will offset losses from the drop in Allwin Telecommunicatio's long position.| Kweichow Moutai vs. Thunder Software Technology | Kweichow Moutai vs. Jiangsu Hoperun Software | Kweichow Moutai vs. HeNan Splendor Science | Kweichow Moutai vs. Bank of Suzhou |
| Allwin Telecommunicatio vs. Bank of China | Allwin Telecommunicatio vs. Kweichow Moutai Co | Allwin Telecommunicatio vs. PetroChina Co Ltd | Allwin Telecommunicatio vs. Bank of Communications |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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