Correlation Between 360 Security and Kuangda Technology
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By analyzing existing cross correlation between 360 Security Technology and Kuangda Technology Group, you can compare the effects of market volatilities on 360 Security and Kuangda 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 360 Security with a short position of Kuangda Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of 360 Security and Kuangda Technology.
Diversification Opportunities for 360 Security and Kuangda Technology
0.54 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between 360 and Kuangda is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding 360 Security Technology and Kuangda Technology Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kuangda Technology and 360 Security 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 360 Security Technology are associated (or correlated) with Kuangda Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kuangda Technology has no effect on the direction of 360 Security i.e., 360 Security and Kuangda Technology go up and down completely randomly.
Pair Corralation between 360 Security and Kuangda Technology
Assuming the 90 days trading horizon 360 Security Technology is expected to generate 2.67 times more return on investment than Kuangda Technology. However, 360 Security is 2.67 times more volatile than Kuangda Technology Group. It trades about 0.14 of its potential returns per unit of risk. Kuangda Technology Group is currently generating about 0.19 per unit of risk. If you would invest 1,110 in 360 Security Technology on November 27, 2024 and sell it today you would earn a total of 99.00 from holding 360 Security Technology or generate 8.92% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
360 Security Technology vs. Kuangda Technology Group
Performance |
| Timeline |
| 360 Security Technology |
| Kuangda Technology |
360 Security and Kuangda Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 360 Security and Kuangda Technology
The main advantage of trading using opposite 360 Security and Kuangda Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 360 Security position performs unexpectedly, Kuangda 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 Kuangda Technology will offset losses from the drop in Kuangda Technology's long position.| 360 Security vs. MayAir Technology Co | 360 Security vs. Hang Xiao Steel | 360 Security vs. Fangda Special Steel | 360 Security vs. Wangneng Environment Co |
| Kuangda Technology vs. BYD Co Ltd | Kuangda Technology vs. China Mobile Limited | Kuangda Technology vs. Agricultural Bank of | Kuangda Technology vs. Industrial and Commercial |
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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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