Correlation Between Keeson Technology and Muyuan Foodstuff
Specify exactly 2 symbols:
By analyzing existing cross correlation between Keeson Technology Corp and Muyuan Foodstuff Co, you can compare the effects of market volatilities on Keeson Technology and Muyuan Foodstuff 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 Keeson Technology with a short position of Muyuan Foodstuff. Check out your portfolio center. Please also check ongoing floating volatility patterns of Keeson Technology and Muyuan Foodstuff.
Diversification Opportunities for Keeson Technology and Muyuan Foodstuff
-0.68 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Keeson and Muyuan is -0.68. Overlapping area represents the amount of risk that can be diversified away by holding Keeson Technology Corp and Muyuan Foodstuff Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Muyuan Foodstuff and Keeson Technology 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 Keeson Technology Corp are associated (or correlated) with Muyuan Foodstuff. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Muyuan Foodstuff has no effect on the direction of Keeson Technology i.e., Keeson Technology and Muyuan Foodstuff go up and down completely randomly.
Pair Corralation between Keeson Technology and Muyuan Foodstuff
Assuming the 90 days trading horizon Keeson Technology Corp is expected to generate 1.54 times more return on investment than Muyuan Foodstuff. However, Keeson Technology is 1.54 times more volatile than Muyuan Foodstuff Co. It trades about 0.01 of its potential returns per unit of risk. Muyuan Foodstuff Co is currently generating about 0.0 per unit of risk. If you would invest 1,152 in Keeson Technology Corp on October 16, 2024 and sell it today you would lose (80.00) from holding Keeson Technology Corp or give up 6.94% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Keeson Technology Corp vs. Muyuan Foodstuff Co
Performance |
| Timeline |
| Keeson Technology Corp |
| Muyuan Foodstuff |
Keeson Technology and Muyuan Foodstuff Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Keeson Technology and Muyuan Foodstuff
The main advantage of trading using opposite Keeson Technology and Muyuan Foodstuff positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Keeson Technology position performs unexpectedly, Muyuan Foodstuff 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 Muyuan Foodstuff will offset losses from the drop in Muyuan Foodstuff's long position.| Keeson Technology vs. Qtone Education Group | Keeson Technology vs. Xinhua Winshare Publishing | Keeson Technology vs. Northern United Publishing | Keeson Technology vs. V V Food |
| Muyuan Foodstuff vs. Dhc Software Co | Muyuan Foodstuff vs. Tianshui Huatian Technology | Muyuan Foodstuff vs. Linewell Software Co | Muyuan Foodstuff vs. Anhui Deli Household |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
Other Complementary Tools
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Stocks Directory Find actively traded stocks across global markets | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins |