Correlation Between Keeson Technology and Ye Chiu
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By analyzing existing cross correlation between Keeson Technology Corp and Ye Chiu Metal, you can compare the effects of market volatilities on Keeson Technology and Ye Chiu 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 Ye Chiu. Check out your portfolio center. Please also check ongoing floating volatility patterns of Keeson Technology and Ye Chiu.
Diversification Opportunities for Keeson Technology and Ye Chiu
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Keeson and 601388 is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Keeson Technology Corp and Ye Chiu Metal in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ye Chiu Metal 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 Ye Chiu. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ye Chiu Metal has no effect on the direction of Keeson Technology i.e., Keeson Technology and Ye Chiu go up and down completely randomly.
Pair Corralation between Keeson Technology and Ye Chiu
Assuming the 90 days trading horizon Keeson Technology Corp is expected to generate 0.96 times more return on investment than Ye Chiu. However, Keeson Technology Corp is 1.04 times less risky than Ye Chiu. It trades about -0.01 of its potential returns per unit of risk. Ye Chiu Metal is currently generating about -0.01 per unit of risk. If you would invest 1,337 in Keeson Technology Corp on August 29, 2024 and sell it today you would lose (326.00) from holding Keeson Technology Corp or give up 24.38% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Keeson Technology Corp vs. Ye Chiu Metal
Performance |
| Timeline |
| Keeson Technology Corp |
| Ye Chiu Metal |
Keeson Technology and Ye Chiu Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Keeson Technology and Ye Chiu
The main advantage of trading using opposite Keeson Technology and Ye Chiu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Keeson Technology position performs unexpectedly, Ye Chiu 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 Ye Chiu will offset losses from the drop in Ye Chiu's long position.| Keeson Technology vs. Agricultural Bank of | Keeson Technology vs. Industrial and Commercial | Keeson Technology vs. Bank of China | Keeson Technology vs. China Construction Bank |
| Ye Chiu vs. Shandong Gold Mining | Ye Chiu vs. Rongsheng Petrochemical Co | Ye Chiu vs. Inner Mongolia BaoTou | Ye Chiu vs. Jiangxi Ganfeng Lithium |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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