Correlation Between Keeson Technology and Longmaster Information
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By analyzing existing cross correlation between Keeson Technology Corp and Longmaster Information Tech, you can compare the effects of market volatilities on Keeson Technology and Longmaster Information 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 Longmaster Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Keeson Technology and Longmaster Information.
Diversification Opportunities for Keeson Technology and Longmaster Information
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Keeson and Longmaster is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Keeson Technology Corp and Longmaster Information Tech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Longmaster Information 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 Longmaster Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Longmaster Information has no effect on the direction of Keeson Technology i.e., Keeson Technology and Longmaster Information go up and down completely randomly.
Pair Corralation between Keeson Technology and Longmaster Information
Assuming the 90 days trading horizon Keeson Technology is expected to generate 3.44 times less return on investment than Longmaster Information. But when comparing it to its historical volatility, Keeson Technology Corp is 1.67 times less risky than Longmaster Information. It trades about 0.17 of its potential returns per unit of risk. Longmaster Information Tech is currently generating about 0.35 of returns per unit of risk over similar time horizon. If you would invest 1,393 in Longmaster Information Tech on November 27, 2024 and sell it today you would earn a total of 421.00 from holding Longmaster Information Tech or generate 30.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Keeson Technology Corp vs. Longmaster Information Tech
Performance |
| Timeline |
| Keeson Technology Corp |
| Longmaster Information |
Keeson Technology and Longmaster Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Keeson Technology and Longmaster Information
The main advantage of trading using opposite Keeson Technology and Longmaster Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Keeson Technology position performs unexpectedly, Longmaster Information 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 Longmaster Information will offset losses from the drop in Longmaster Information's long position.| Keeson Technology vs. Porton Fine Chemicals | Keeson Technology vs. Jiangxi Sunshine Dairy | Keeson Technology vs. Shandong Rike Chemical | Keeson Technology vs. Springsnow Food Group |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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