Correlation Between Kweichow Moutai and Queclink Wireless
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By analyzing existing cross correlation between Kweichow Moutai Co and Queclink Wireless Solutions, you can compare the effects of market volatilities on Kweichow Moutai and Queclink Wireless 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 Queclink Wireless. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kweichow Moutai and Queclink Wireless.
Diversification Opportunities for Kweichow Moutai and Queclink Wireless
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Kweichow and Queclink is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Kweichow Moutai Co and Queclink Wireless Solutions in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Queclink Wireless 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 Queclink Wireless. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Queclink Wireless has no effect on the direction of Kweichow Moutai i.e., Kweichow Moutai and Queclink Wireless go up and down completely randomly.
Pair Corralation between Kweichow Moutai and Queclink Wireless
Assuming the 90 days trading horizon Kweichow Moutai Co is expected to under-perform the Queclink Wireless. But the stock apears to be less risky and, when comparing its historical volatility, Kweichow Moutai Co is 2.25 times less risky than Queclink Wireless. The stock trades about -0.01 of its potential returns per unit of risk. The Queclink Wireless Solutions is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 1,192 in Queclink Wireless Solutions on August 27, 2024 and sell it today you would earn a total of 189.00 from holding Queclink Wireless Solutions or generate 15.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kweichow Moutai Co vs. Queclink Wireless Solutions
Performance |
| Timeline |
| Kweichow Moutai |
| Queclink Wireless |
Kweichow Moutai and Queclink Wireless Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kweichow Moutai and Queclink Wireless
The main advantage of trading using opposite Kweichow Moutai and Queclink Wireless positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kweichow Moutai position performs unexpectedly, Queclink Wireless 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 Queclink Wireless will offset losses from the drop in Queclink Wireless' long position.| Kweichow Moutai vs. Xiangyang Automobile Bearing | Kweichow Moutai vs. Northking Information Technology | Kweichow Moutai vs. Niutech Environment Technology | Kweichow Moutai vs. Western Superconducting Tech |
| Queclink Wireless vs. Xingguang Agricultural Mach | Queclink Wireless vs. Emdoor Information Co | Queclink Wireless vs. AVCON Information Tech | Queclink Wireless vs. Northking Information Technology |
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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