Correlation Between Xinhua Winshare and Keeson Technology
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By analyzing existing cross correlation between Xinhua Winshare Publishing and Keeson Technology Corp, you can compare the effects of market volatilities on Xinhua Winshare 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 Xinhua Winshare with a short position of Keeson Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xinhua Winshare and Keeson Technology.
Diversification Opportunities for Xinhua Winshare and Keeson Technology
0.7 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Xinhua and Keeson is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding Xinhua Winshare Publishing 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 Xinhua Winshare 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 Xinhua Winshare Publishing 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 Xinhua Winshare i.e., Xinhua Winshare and Keeson Technology go up and down completely randomly.
Pair Corralation between Xinhua Winshare and Keeson Technology
Assuming the 90 days trading horizon Xinhua Winshare Publishing is expected to generate 0.68 times more return on investment than Keeson Technology. However, Xinhua Winshare Publishing is 1.47 times less risky than Keeson Technology. It trades about 0.05 of its potential returns per unit of risk. Keeson Technology Corp is currently generating about 0.0 per unit of risk. If you would invest 1,201 in Xinhua Winshare Publishing on October 17, 2024 and sell it today you would earn a total of 244.00 from holding Xinhua Winshare Publishing or generate 20.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Xinhua Winshare Publishing vs. Keeson Technology Corp
Performance |
| Timeline |
| Xinhua Winshare Publ |
| Keeson Technology Corp |
Xinhua Winshare and Keeson Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xinhua Winshare and Keeson Technology
The main advantage of trading using opposite Xinhua Winshare and Keeson Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xinhua Winshare 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.| Xinhua Winshare vs. ButOne Information Corp | Xinhua Winshare vs. Hongrun Construction Group | Xinhua Winshare vs. Hangzhou Gisway Information | Xinhua Winshare vs. Allied Machinery Co |
| Keeson Technology vs. Qtone Education Group | Keeson Technology vs. Xinhua Winshare Publishing | Keeson Technology vs. Northern United Publishing | Keeson Technology vs. V V Food |
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.
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