Correlation Between Keeson Technology and Gome Telecom
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By analyzing existing cross correlation between Keeson Technology Corp and Gome Telecom Equipment, you can compare the effects of market volatilities on Keeson Technology and Gome Telecom 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 Gome Telecom. Check out your portfolio center. Please also check ongoing floating volatility patterns of Keeson Technology and Gome Telecom.
Diversification Opportunities for Keeson Technology and Gome Telecom
-0.54 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Keeson and Gome is -0.54. Overlapping area represents the amount of risk that can be diversified away by holding Keeson Technology Corp and Gome Telecom Equipment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gome Telecom Equipment 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 Gome Telecom. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gome Telecom Equipment has no effect on the direction of Keeson Technology i.e., Keeson Technology and Gome Telecom go up and down completely randomly.
Pair Corralation between Keeson Technology and Gome Telecom
Assuming the 90 days trading horizon Keeson Technology Corp is expected to generate 0.82 times more return on investment than Gome Telecom. However, Keeson Technology Corp is 1.21 times less risky than Gome Telecom. It trades about 0.0 of its potential returns per unit of risk. Gome Telecom Equipment is currently generating about -0.12 per unit of risk. If you would invest 1,276 in Keeson Technology Corp on October 14, 2024 and sell it today you would lose (237.00) from holding Keeson Technology Corp or give up 18.57% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Keeson Technology Corp vs. Gome Telecom Equipment
Performance |
| Timeline |
| Keeson Technology Corp |
| Gome Telecom Equipment |
Keeson Technology and Gome Telecom Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Keeson Technology and Gome Telecom
The main advantage of trading using opposite Keeson Technology and Gome Telecom positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Keeson Technology position performs unexpectedly, Gome Telecom 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 Gome Telecom will offset losses from the drop in Gome Telecom's long position.| Keeson Technology vs. Jinhe Biotechnology Co | Keeson Technology vs. Dhc Software Co | Keeson Technology vs. Sharetronic Data Technology | Keeson Technology vs. Leyard Optoelectronic |
| Gome Telecom vs. Jiangsu Xinri E Vehicle | Gome Telecom vs. Maxvision Technology Corp | Gome Telecom vs. Iat Automobile Technology | Gome Telecom vs. Keeson Technology Corp |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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