Correlation Between Kweichow Moutai and Kunwu Jiuding
Specify exactly 2 symbols:
By analyzing existing cross correlation between Kweichow Moutai Co and Kunwu Jiuding Investment, you can compare the effects of market volatilities on Kweichow Moutai and Kunwu Jiuding 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 Kunwu Jiuding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kweichow Moutai and Kunwu Jiuding.
Diversification Opportunities for Kweichow Moutai and Kunwu Jiuding
0.71 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Kweichow and Kunwu is 0.71. Overlapping area represents the amount of risk that can be diversified away by holding Kweichow Moutai Co and Kunwu Jiuding Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kunwu Jiuding Investment 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 Kunwu Jiuding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kunwu Jiuding Investment has no effect on the direction of Kweichow Moutai i.e., Kweichow Moutai and Kunwu Jiuding go up and down completely randomly.
Pair Corralation between Kweichow Moutai and Kunwu Jiuding
Assuming the 90 days trading horizon Kweichow Moutai Co is expected to generate 0.59 times more return on investment than Kunwu Jiuding. However, Kweichow Moutai Co is 1.69 times less risky than Kunwu Jiuding. It trades about 0.24 of its potential returns per unit of risk. Kunwu Jiuding Investment is currently generating about 0.11 per unit of risk. If you would invest 140,380 in Kweichow Moutai Co on November 29, 2024 and sell it today you would earn a total of 5,621 from holding Kweichow Moutai Co or generate 4.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kweichow Moutai Co vs. Kunwu Jiuding Investment
Performance |
| Timeline |
| Kweichow Moutai |
| Kunwu Jiuding Investment |
Kweichow Moutai and Kunwu Jiuding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kweichow Moutai and Kunwu Jiuding
The main advantage of trading using opposite Kweichow Moutai and Kunwu Jiuding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kweichow Moutai position performs unexpectedly, Kunwu Jiuding 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 Kunwu Jiuding will offset losses from the drop in Kunwu Jiuding's long position.| Kweichow Moutai vs. Postal Savings Bank | Kweichow Moutai vs. TVZone Media Co | Kweichow Moutai vs. Southern PublishingMedia Co | Kweichow Moutai vs. Beijing Mainstreets Investment |
| Kunwu Jiuding vs. Digital China Information | Kunwu Jiuding vs. Guizhou BroadcastingTV Info | Kunwu Jiuding vs. Guangdong TianYiMa Information | Kunwu Jiuding vs. Westone Information Industry |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
Other Complementary Tools
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. |