Correlation Between Postal Savings and Kingsignal Technology
Specify exactly 2 symbols:
By analyzing existing cross correlation between Postal Savings Bank and Kingsignal Technology Co, you can compare the effects of market volatilities on Postal Savings and Kingsignal 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 Postal Savings with a short position of Kingsignal Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Postal Savings and Kingsignal Technology.
Diversification Opportunities for Postal Savings and Kingsignal Technology
0.74 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Postal and Kingsignal is 0.74. Overlapping area represents the amount of risk that can be diversified away by holding Postal Savings Bank and Kingsignal Technology Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kingsignal Technology and Postal Savings 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 Postal Savings Bank are associated (or correlated) with Kingsignal Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kingsignal Technology has no effect on the direction of Postal Savings i.e., Postal Savings and Kingsignal Technology go up and down completely randomly.
Pair Corralation between Postal Savings and Kingsignal Technology
Assuming the 90 days trading horizon Postal Savings is expected to generate 13.79 times less return on investment than Kingsignal Technology. But when comparing it to its historical volatility, Postal Savings Bank is 2.71 times less risky than Kingsignal Technology. It trades about 0.01 of its potential returns per unit of risk. Kingsignal Technology Co is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 907.00 in Kingsignal Technology Co on September 3, 2024 and sell it today you would earn a total of 7.00 from holding Kingsignal Technology Co or generate 0.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Postal Savings Bank vs. Kingsignal Technology Co
Performance |
| Timeline |
| Postal Savings Bank |
| Kingsignal Technology |
Postal Savings and Kingsignal Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Postal Savings and Kingsignal Technology
The main advantage of trading using opposite Postal Savings and Kingsignal Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Postal Savings position performs unexpectedly, Kingsignal 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 Kingsignal Technology will offset losses from the drop in Kingsignal Technology's long position.| Postal Savings vs. Chongqing Road Bridge | Postal Savings vs. Wuhan Xianglong Power | Postal Savings vs. Empyrean Technology Co | Postal Savings vs. Yuanjie Semiconductor Technology |
| Kingsignal Technology vs. Agricultural Bank of | Kingsignal Technology vs. China Construction Bank | Kingsignal Technology vs. Postal Savings Bank | Kingsignal Technology 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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
Other Complementary Tools
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data |