Correlation Between Time Publishing and Kunshan Guoli
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By analyzing existing cross correlation between Time Publishing and and Kunshan Guoli Electronic, you can compare the effects of market volatilities on Time Publishing and Kunshan Guoli 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 Time Publishing with a short position of Kunshan Guoli. Check out your portfolio center. Please also check ongoing floating volatility patterns of Time Publishing and Kunshan Guoli.
Diversification Opportunities for Time Publishing and Kunshan Guoli
0.72 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Time and Kunshan is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding Time Publishing and and Kunshan Guoli Electronic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kunshan Guoli Electronic and Time Publishing 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 Time Publishing and are associated (or correlated) with Kunshan Guoli. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kunshan Guoli Electronic has no effect on the direction of Time Publishing i.e., Time Publishing and Kunshan Guoli go up and down completely randomly.
Pair Corralation between Time Publishing and Kunshan Guoli
Assuming the 90 days trading horizon Time Publishing and is expected to generate 0.46 times more return on investment than Kunshan Guoli. However, Time Publishing and is 2.19 times less risky than Kunshan Guoli. It trades about 0.22 of its potential returns per unit of risk. Kunshan Guoli Electronic is currently generating about -0.02 per unit of risk. If you would invest 822.00 in Time Publishing and on September 3, 2024 and sell it today you would earn a total of 68.00 from holding Time Publishing and or generate 8.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Time Publishing and vs. Kunshan Guoli Electronic
Performance |
| Timeline |
| Time Publishing |
| Kunshan Guoli Electronic |
Time Publishing and Kunshan Guoli Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Time Publishing and Kunshan Guoli
The main advantage of trading using opposite Time Publishing and Kunshan Guoli positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Time Publishing position performs unexpectedly, Kunshan Guoli 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 Kunshan Guoli will offset losses from the drop in Kunshan Guoli's long position.| Time Publishing vs. Gansu Jiu Steel | Time Publishing vs. Ming Yang Smart | Time Publishing vs. Aba Chemicals Corp | Time Publishing vs. Loctek Ergonomic Technology |
| Kunshan Guoli vs. Agricultural Bank of | Kunshan Guoli vs. China Construction Bank | Kunshan Guoli vs. Postal Savings Bank | Kunshan Guoli 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 Stocks Directory module to find actively traded stocks across global markets.
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