Correlation Between Keeson Technology and Cultural Investment
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By analyzing existing cross correlation between Keeson Technology Corp and Cultural Investment Holdings, you can compare the effects of market volatilities on Keeson Technology and Cultural Investment 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 Cultural Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Keeson Technology and Cultural Investment.
Diversification Opportunities for Keeson Technology and Cultural Investment
0.01 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Keeson and Cultural is 0.01. Overlapping area represents the amount of risk that can be diversified away by holding Keeson Technology Corp and Cultural Investment Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cultural Investment 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 Cultural Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cultural Investment has no effect on the direction of Keeson Technology i.e., Keeson Technology and Cultural Investment go up and down completely randomly.
Pair Corralation between Keeson Technology and Cultural Investment
Assuming the 90 days trading horizon Keeson Technology Corp is expected to under-perform the Cultural Investment. In addition to that, Keeson Technology is 2.16 times more volatile than Cultural Investment Holdings. It trades about -0.19 of its total potential returns per unit of risk. Cultural Investment Holdings is currently generating about -0.26 per unit of volatility. If you would invest 230.00 in Cultural Investment Holdings on October 30, 2024 and sell it today you would lose (21.00) from holding Cultural Investment Holdings or give up 9.13% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Keeson Technology Corp vs. Cultural Investment Holdings
Performance |
| Timeline |
| Keeson Technology Corp |
| Cultural Investment |
Keeson Technology and Cultural Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Keeson Technology and Cultural Investment
The main advantage of trading using opposite Keeson Technology and Cultural Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Keeson Technology position performs unexpectedly, Cultural Investment 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 Cultural Investment will offset losses from the drop in Cultural Investment'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 |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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