Correlation Between Keeson Technology and Huaxia Fund
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By analyzing existing cross correlation between Keeson Technology Corp and Huaxia Fund Management, you can compare the effects of market volatilities on Keeson Technology and Huaxia Fund 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 Huaxia Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Keeson Technology and Huaxia Fund.
Diversification Opportunities for Keeson Technology and Huaxia Fund
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Keeson and Huaxia is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding Keeson Technology Corp and Huaxia Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Huaxia Fund Management 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 Huaxia Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Huaxia Fund Management has no effect on the direction of Keeson Technology i.e., Keeson Technology and Huaxia Fund go up and down completely randomly.
Pair Corralation between Keeson Technology and Huaxia Fund
Assuming the 90 days trading horizon Keeson Technology Corp is expected to under-perform the Huaxia Fund. In addition to that, Keeson Technology is 3.23 times more volatile than Huaxia Fund Management. It trades about -0.25 of its total potential returns per unit of risk. Huaxia Fund Management is currently generating about 0.32 per unit of volatility. If you would invest 287.00 in Huaxia Fund Management on October 29, 2024 and sell it today you would earn a total of 21.00 from holding Huaxia Fund Management or generate 7.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Keeson Technology Corp vs. Huaxia Fund Management
Performance |
| Timeline |
| Keeson Technology Corp |
| Huaxia Fund Management |
Keeson Technology and Huaxia Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Keeson Technology and Huaxia Fund
The main advantage of trading using opposite Keeson Technology and Huaxia Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Keeson Technology position performs unexpectedly, Huaxia Fund 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 Huaxia Fund will offset losses from the drop in Huaxia Fund's long position.| Keeson Technology vs. Dazhong Transportation Group | Keeson Technology vs. JCHX Mining Management | Keeson Technology vs. Jiangsu Jinling Sports | Keeson Technology vs. Zhangjiagang Freetrade Science |
| Huaxia Fund vs. Industrial and Commercial | Huaxia Fund vs. Kweichow Moutai Co | Huaxia Fund vs. Agricultural Bank of | Huaxia Fund vs. China Mobile Limited |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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