Correlation Between Keeson Technology and Tianjin Silvery
Specify exactly 2 symbols:
By analyzing existing cross correlation between Keeson Technology Corp and Tianjin Silvery Dragon, you can compare the effects of market volatilities on Keeson Technology and Tianjin Silvery 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 Tianjin Silvery. Check out your portfolio center. Please also check ongoing floating volatility patterns of Keeson Technology and Tianjin Silvery.
Diversification Opportunities for Keeson Technology and Tianjin Silvery
0.77 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Keeson and Tianjin is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding Keeson Technology Corp and Tianjin Silvery Dragon in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Tianjin Silvery Dragon 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 Tianjin Silvery. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Tianjin Silvery Dragon has no effect on the direction of Keeson Technology i.e., Keeson Technology and Tianjin Silvery go up and down completely randomly.
Pair Corralation between Keeson Technology and Tianjin Silvery
Assuming the 90 days trading horizon Keeson Technology Corp is expected to under-perform the Tianjin Silvery. But the stock apears to be less risky and, when comparing its historical volatility, Keeson Technology Corp is 1.05 times less risky than Tianjin Silvery. The stock trades about -0.19 of its potential returns per unit of risk. The Tianjin Silvery Dragon is currently generating about -0.04 of returns per unit of risk over similar time horizon. If you would invest 664.00 in Tianjin Silvery Dragon on October 30, 2024 and sell it today you would lose (33.00) from holding Tianjin Silvery Dragon or give up 4.97% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Keeson Technology Corp vs. Tianjin Silvery Dragon
Performance |
| Timeline |
| Keeson Technology Corp |
| Tianjin Silvery Dragon |
Keeson Technology and Tianjin Silvery Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Keeson Technology and Tianjin Silvery
The main advantage of trading using opposite Keeson Technology and Tianjin Silvery positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Keeson Technology position performs unexpectedly, Tianjin Silvery 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 Tianjin Silvery will offset losses from the drop in Tianjin Silvery's long position.| Keeson Technology vs. Dazhong Transportation Group | Keeson Technology vs. JCHX Mining Management | Keeson Technology vs. Jiangsu Jinling Sports | Keeson Technology vs. Zhangjiagang Freetrade Science |
| Tianjin Silvery vs. Bohai Leasing Co | Tianjin Silvery vs. Jiamei Food Packaging | Tianjin Silvery vs. Anji Foodstuff Co | Tianjin Silvery vs. Xinjiang Tianrun Dairy |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
Other Complementary Tools
| Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets |