Correlation Between Keeson Technology and Jangho Group
Specify exactly 2 symbols:
By analyzing existing cross correlation between Keeson Technology Corp and Jangho Group Co, you can compare the effects of market volatilities on Keeson Technology and Jangho Group 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 Jangho Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Keeson Technology and Jangho Group.
Diversification Opportunities for Keeson Technology and Jangho Group
0.16 | Correlation Coefficient |
Average diversification
The 3 months correlation between Keeson and Jangho is 0.16. Overlapping area represents the amount of risk that can be diversified away by holding Keeson Technology Corp and Jangho Group Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Jangho Group 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 Jangho Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Jangho Group has no effect on the direction of Keeson Technology i.e., Keeson Technology and Jangho Group go up and down completely randomly.
Pair Corralation between Keeson Technology and Jangho Group
Assuming the 90 days trading horizon Keeson Technology Corp is expected to under-perform the Jangho Group. In addition to that, Keeson Technology is 2.43 times more volatile than Jangho Group Co. It trades about -0.08 of its total potential returns per unit of risk. Jangho Group Co is currently generating about 0.01 per unit of volatility. If you would invest 552.00 in Jangho Group Co on November 30, 2024 and sell it today you would earn a total of 2.00 from holding Jangho Group Co or generate 0.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Keeson Technology Corp vs. Jangho Group Co
Performance |
| Timeline |
| Keeson Technology Corp |
| Jangho Group |
Keeson Technology and Jangho Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Keeson Technology and Jangho Group
The main advantage of trading using opposite Keeson Technology and Jangho Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Keeson Technology position performs unexpectedly, Jangho Group 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 Jangho Group will offset losses from the drop in Jangho Group's long position.| Keeson Technology vs. Nanxing Furniture Machinery | Keeson Technology vs. DO Home Collection | Keeson Technology vs. Markor International Home | Keeson Technology vs. Hengerda New Materials |
| Jangho Group vs. Peoples Insurance of | Jangho Group vs. Guosheng Financial Holding | Jangho Group vs. Duzhe Publishing Media | Jangho Group vs. Unisplendour 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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
Other Complementary Tools
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital |