Correlation Between Cultural Investment and Kingclean Electric
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By analyzing existing cross correlation between Cultural Investment Holdings and Kingclean Electric Co, you can compare the effects of market volatilities on Cultural Investment and Kingclean Electric 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 Cultural Investment with a short position of Kingclean Electric. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and Kingclean Electric.
Diversification Opportunities for Cultural Investment and Kingclean Electric
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between Cultural and Kingclean is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and Kingclean Electric Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kingclean Electric and Cultural Investment 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 Cultural Investment Holdings are associated (or correlated) with Kingclean Electric. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kingclean Electric has no effect on the direction of Cultural Investment i.e., Cultural Investment and Kingclean Electric go up and down completely randomly.
Pair Corralation between Cultural Investment and Kingclean Electric
Assuming the 90 days trading horizon Cultural Investment Holdings is expected to generate 3.48 times more return on investment than Kingclean Electric. However, Cultural Investment is 3.48 times more volatile than Kingclean Electric Co. It trades about 0.03 of its potential returns per unit of risk. Kingclean Electric Co is currently generating about 0.06 per unit of risk. If you would invest 218.00 in Cultural Investment Holdings on September 28, 2024 and sell it today you would earn a total of 2.00 from holding Cultural Investment Holdings or generate 0.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cultural Investment Holdings vs. Kingclean Electric Co
Performance |
| Timeline |
| Cultural Investment |
| Kingclean Electric |
Cultural Investment and Kingclean Electric Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and Kingclean Electric
The main advantage of trading using opposite Cultural Investment and Kingclean Electric positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, Kingclean Electric 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 Kingclean Electric will offset losses from the drop in Kingclean Electric's long position.| Cultural Investment vs. Gome Telecom Equipment | Cultural Investment vs. Bus Online Co | Cultural Investment vs. Holitech Technology Co | Cultural Investment vs. Zotye Automobile Co |
| Kingclean Electric vs. Industrial and Commercial | Kingclean Electric vs. Kweichow Moutai Co | Kingclean Electric vs. Agricultural Bank of | Kingclean Electric vs. China Mobile Limited |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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