Correlation Between Keeson Technology and Minami Acoustics
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By analyzing existing cross correlation between Keeson Technology Corp and Minami Acoustics Ltd, you can compare the effects of market volatilities on Keeson Technology and Minami Acoustics 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 Minami Acoustics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Keeson Technology and Minami Acoustics.
Diversification Opportunities for Keeson Technology and Minami Acoustics
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Keeson and Minami is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Keeson Technology Corp and Minami Acoustics Ltd in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Minami Acoustics 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 Minami Acoustics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Minami Acoustics has no effect on the direction of Keeson Technology i.e., Keeson Technology and Minami Acoustics go up and down completely randomly.
Pair Corralation between Keeson Technology and Minami Acoustics
Assuming the 90 days trading horizon Keeson Technology is expected to generate 8.06 times less return on investment than Minami Acoustics. But when comparing it to its historical volatility, Keeson Technology Corp is 1.43 times less risky than Minami Acoustics. It trades about 0.04 of its potential returns per unit of risk. Minami Acoustics Ltd is currently generating about 0.23 of returns per unit of risk over similar time horizon. If you would invest 3,593 in Minami Acoustics Ltd on October 9, 2024 and sell it today you would earn a total of 1,392 from holding Minami Acoustics Ltd or generate 38.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 95.24% |
| Values | Daily Returns |
Keeson Technology Corp vs. Minami Acoustics Ltd
Performance |
| Timeline |
| Keeson Technology Corp |
| Minami Acoustics |
Keeson Technology and Minami Acoustics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Keeson Technology and Minami Acoustics
The main advantage of trading using opposite Keeson Technology and Minami Acoustics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Keeson Technology position performs unexpectedly, Minami Acoustics 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 Minami Acoustics will offset losses from the drop in Minami Acoustics' long position.| Keeson Technology vs. Hubei Yingtong Telecommunication | Keeson Technology vs. PKU HealthCare Corp | Keeson Technology vs. Sichuan Jinshi Technology | Keeson Technology vs. Allwin Telecommunication Co |
| Minami Acoustics vs. Caihong Display Devices | Minami Acoustics vs. Shaanxi Meineng Clean | Minami Acoustics vs. Jonjee Hi tech Industrial | Minami Acoustics 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 Balance Of Power module to check stock momentum by analyzing Balance Of Power indicator and other technical ratios.
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