Correlation Between Linewell Software and Kingsignal Technology
Specify exactly 2 symbols:
By analyzing existing cross correlation between Linewell Software Co and Kingsignal Technology Co, you can compare the effects of market volatilities on Linewell Software and Kingsignal Technology 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 Linewell Software with a short position of Kingsignal Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Linewell Software and Kingsignal Technology.
Diversification Opportunities for Linewell Software and Kingsignal Technology
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Linewell and Kingsignal is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding Linewell Software Co and Kingsignal Technology Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kingsignal Technology and Linewell Software 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 Linewell Software Co are associated (or correlated) with Kingsignal Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kingsignal Technology has no effect on the direction of Linewell Software i.e., Linewell Software and Kingsignal Technology go up and down completely randomly.
Pair Corralation between Linewell Software and Kingsignal Technology
Assuming the 90 days trading horizon Linewell Software is expected to generate 6.25 times less return on investment than Kingsignal Technology. But when comparing it to its historical volatility, Linewell Software Co is 1.29 times less risky than Kingsignal Technology. It trades about 0.01 of its potential returns per unit of risk. Kingsignal Technology Co is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 765.00 in Kingsignal Technology Co on September 3, 2024 and sell it today you would earn a total of 149.00 from holding Kingsignal Technology Co or generate 19.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Linewell Software Co vs. Kingsignal Technology Co
Performance |
| Timeline |
| Linewell Software |
| Kingsignal Technology |
Linewell Software and Kingsignal Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Linewell Software and Kingsignal Technology
The main advantage of trading using opposite Linewell Software and Kingsignal Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Linewell Software position performs unexpectedly, Kingsignal Technology 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 Kingsignal Technology will offset losses from the drop in Kingsignal Technology's long position.| Linewell Software vs. Agricultural Bank of | Linewell Software vs. China Construction Bank | Linewell Software vs. Postal Savings Bank | Linewell Software vs. Bank of Communications |
| Kingsignal Technology vs. Agricultural Bank of | Kingsignal Technology vs. China Construction Bank | Kingsignal Technology vs. Postal Savings Bank | Kingsignal Technology vs. Bank of Communications |
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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
Other Complementary Tools
| Commodity Directory Find actively traded commodities issued by global exchanges | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Bonds Directory Find actively traded corporate debentures issued by US companies |