Correlation Between Industrial and Kunwu Jiuding
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By analyzing existing cross correlation between Industrial and Commercial and Kunwu Jiuding Investment, you can compare the effects of market volatilities on Industrial and Kunwu Jiuding 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 Industrial with a short position of Kunwu Jiuding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Industrial and Kunwu Jiuding.
Diversification Opportunities for Industrial and Kunwu Jiuding
0.34 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Industrial and Kunwu is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding Industrial and Commercial and Kunwu Jiuding Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kunwu Jiuding Investment and Industrial 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 Industrial and Commercial are associated (or correlated) with Kunwu Jiuding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kunwu Jiuding Investment has no effect on the direction of Industrial i.e., Industrial and Kunwu Jiuding go up and down completely randomly.
Pair Corralation between Industrial and Kunwu Jiuding
Assuming the 90 days trading horizon Industrial is expected to generate 1.08 times less return on investment than Kunwu Jiuding. But when comparing it to its historical volatility, Industrial and Commercial is 3.22 times less risky than Kunwu Jiuding. It trades about 0.1 of its potential returns per unit of risk. Kunwu Jiuding Investment is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 1,487 in Kunwu Jiuding Investment on September 4, 2024 and sell it today you would earn a total of 184.00 from holding Kunwu Jiuding Investment or generate 12.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Industrial and Commercial vs. Kunwu Jiuding Investment
Performance |
| Timeline |
| Industrial and Commercial |
| Kunwu Jiuding Investment |
Industrial and Kunwu Jiuding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Industrial and Kunwu Jiuding
The main advantage of trading using opposite Industrial and Kunwu Jiuding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Industrial position performs unexpectedly, Kunwu Jiuding 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 Kunwu Jiuding will offset losses from the drop in Kunwu Jiuding's long position.| Industrial vs. China Life Insurance | Industrial vs. Shenzhen MYS Environmental | Industrial vs. Anhui Fuhuang Steel | Industrial vs. China Sports Industry |
| Kunwu Jiuding vs. Industrial and Commercial | Kunwu Jiuding vs. Agricultural Bank of | Kunwu Jiuding vs. China Construction Bank | Kunwu Jiuding vs. Bank of China |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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