Correlation Between Kweichow Moutai and APT Medical
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By analyzing existing cross correlation between Kweichow Moutai Co and APT Medical, you can compare the effects of market volatilities on Kweichow Moutai and APT Medical 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 APT Medical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kweichow Moutai and APT Medical.
Diversification Opportunities for Kweichow Moutai and APT Medical
0.48 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Kweichow and APT is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding Kweichow Moutai Co and APT Medical in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on APT Medical 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 APT Medical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of APT Medical has no effect on the direction of Kweichow Moutai i.e., Kweichow Moutai and APT Medical go up and down completely randomly.
Pair Corralation between Kweichow Moutai and APT Medical
Assuming the 90 days trading horizon Kweichow Moutai Co is expected to under-perform the APT Medical. But the stock apears to be less risky and, when comparing its historical volatility, Kweichow Moutai Co is 1.6 times less risky than APT Medical. The stock trades about -0.01 of its potential returns per unit of risk. The APT Medical is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 24,597 in APT Medical on January 24, 2025 and sell it today you would earn a total of 18,459 from holding APT Medical or generate 75.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kweichow Moutai Co vs. APT Medical
Performance |
| Timeline |
| Kweichow Moutai |
| APT Medical |
Kweichow Moutai and APT Medical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kweichow Moutai and APT Medical
The main advantage of trading using opposite Kweichow Moutai and APT Medical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kweichow Moutai position performs unexpectedly, APT Medical 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 APT Medical will offset losses from the drop in APT Medical's long position.| Kweichow Moutai vs. Huatian Hotel Group | Kweichow Moutai vs. SSAW Hotels Resorts | Kweichow Moutai vs. Guangdong Jingyi Metal | Kweichow Moutai vs. State Grid InformationCommunication |
| APT Medical vs. Hubeiyichang Transportation Group | APT Medical vs. Zhejiang Zhengguang Industrial | APT Medical vs. Road Environment Technology | APT Medical vs. Citic Guoan Wine |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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