Correlation Between Keeson Technology and Fangda Special
Specify exactly 2 symbols:
By analyzing existing cross correlation between Keeson Technology Corp and Fangda Special Steel, you can compare the effects of market volatilities on Keeson Technology and Fangda Special 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 Fangda Special. Check out your portfolio center. Please also check ongoing floating volatility patterns of Keeson Technology and Fangda Special.
Diversification Opportunities for Keeson Technology and Fangda Special
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Keeson and Fangda is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding Keeson Technology Corp and Fangda Special Steel in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fangda Special Steel 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 Fangda Special. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fangda Special Steel has no effect on the direction of Keeson Technology i.e., Keeson Technology and Fangda Special go up and down completely randomly.
Pair Corralation between Keeson Technology and Fangda Special
Assuming the 90 days trading horizon Keeson Technology Corp is expected to under-perform the Fangda Special. In addition to that, Keeson Technology is 1.31 times more volatile than Fangda Special Steel. It trades about -0.19 of its total potential returns per unit of risk. Fangda Special Steel is currently generating about 0.03 per unit of volatility. If you would invest 409.00 in Fangda Special Steel on October 30, 2024 and sell it today you would earn a total of 5.00 from holding Fangda Special Steel or generate 1.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Keeson Technology Corp vs. Fangda Special Steel
Performance |
| Timeline |
| Keeson Technology Corp |
| Fangda Special Steel |
Keeson Technology and Fangda Special Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Keeson Technology and Fangda Special
The main advantage of trading using opposite Keeson Technology and Fangda Special positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Keeson Technology position performs unexpectedly, Fangda Special 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 Fangda Special will offset losses from the drop in Fangda Special's long position.| Keeson Technology vs. Cloud Live Technology | Keeson Technology vs. Nanjing Putian Telecommunications | Keeson Technology vs. Shenzhen Coship Electronics | Keeson Technology vs. Shenzhen Hifuture Electric |
| Fangda Special vs. Guangdong Wens Foodstuff | Fangda Special vs. Guangdong Liantai Environmental | Fangda Special vs. Anji Foodstuff Co | Fangda Special vs. Muyuan Foodstuff Co |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
Other Complementary Tools
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets |