Correlation Between Agricultural Bank and Keeson Technology
Specify exactly 2 symbols:
By analyzing existing cross correlation between Agricultural Bank of and Keeson Technology Corp, you can compare the effects of market volatilities on Agricultural Bank and Keeson Technology 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 Agricultural Bank with a short position of Keeson Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agricultural Bank and Keeson Technology.
Diversification Opportunities for Agricultural Bank and Keeson Technology
0.41 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Agricultural and Keeson is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding Agricultural Bank of and Keeson Technology Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Keeson Technology Corp and Agricultural Bank 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 Agricultural Bank of are associated (or correlated) with Keeson Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Keeson Technology Corp has no effect on the direction of Agricultural Bank i.e., Agricultural Bank and Keeson Technology go up and down completely randomly.
Pair Corralation between Agricultural Bank and Keeson Technology
Assuming the 90 days trading horizon Agricultural Bank is expected to generate 3.18 times less return on investment than Keeson Technology. But when comparing it to its historical volatility, Agricultural Bank of is 2.45 times less risky than Keeson Technology. It trades about 0.07 of its potential returns per unit of risk. Keeson Technology Corp is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 968.00 in Keeson Technology Corp on August 29, 2024 and sell it today you would earn a total of 43.00 from holding Keeson Technology Corp or generate 4.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Agricultural Bank of vs. Keeson Technology Corp
Performance |
| Timeline |
| Agricultural Bank |
| Keeson Technology Corp |
Agricultural Bank and Keeson Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Agricultural Bank and Keeson Technology
The main advantage of trading using opposite Agricultural Bank and Keeson Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agricultural Bank position performs unexpectedly, Keeson Technology 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 Keeson Technology will offset losses from the drop in Keeson Technology's long position.| Agricultural Bank vs. Sinofibers Technology Co | Agricultural Bank vs. Anhui Jianghuai Automobile | Agricultural Bank vs. Uxi Unicomp Technology | Agricultural Bank vs. Jiujiang Shanshui Technology |
| Keeson Technology vs. Agricultural Bank of | Keeson Technology vs. Industrial and Commercial | Keeson Technology vs. Bank of China | Keeson Technology vs. China Construction Bank |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
Other Complementary Tools
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope |