Correlation Between Linewell Software and Keeson Technology
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By analyzing existing cross correlation between Linewell Software Co and Keeson Technology Corp, you can compare the effects of market volatilities on Linewell Software and Keeson 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 Keeson Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Linewell Software and Keeson Technology.
Diversification Opportunities for Linewell Software and Keeson Technology
0.42 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Linewell and Keeson is 0.42. Overlapping area represents the amount of risk that can be diversified away by holding Linewell Software Co and Keeson Technology Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Keeson Technology Corp 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 Keeson Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Keeson Technology Corp has no effect on the direction of Linewell Software i.e., Linewell Software and Keeson Technology go up and down completely randomly.
Pair Corralation between Linewell Software and Keeson Technology
Assuming the 90 days trading horizon Linewell Software is expected to generate 1.32 times less return on investment than Keeson Technology. In addition to that, Linewell Software is 1.18 times more volatile than Keeson Technology Corp. It trades about 0.01 of its total potential returns per unit of risk. Keeson Technology Corp is currently generating about 0.01 per unit of volatility. If you would invest 1,188 in Keeson Technology Corp on November 27, 2024 and sell it today you would earn a total of 14.00 from holding Keeson Technology Corp or generate 1.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Linewell Software Co vs. Keeson Technology Corp
Performance |
| Timeline |
| Linewell Software |
| Keeson Technology Corp |
Linewell Software and Keeson Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Linewell Software and Keeson Technology
The main advantage of trading using opposite Linewell Software and Keeson Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Linewell Software position performs unexpectedly, Keeson 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 Keeson Technology will offset losses from the drop in Keeson Technology's long position.| Linewell Software vs. Westone Information Industry | Linewell Software vs. Shenzhen Bioeasy Biotechnology | Linewell Software vs. Beijing Watertek Information | Linewell Software vs. Biwin Storage Technology |
| Keeson Technology vs. Porton Fine Chemicals | Keeson Technology vs. Jiangxi Sunshine Dairy | Keeson Technology vs. Shandong Rike Chemical | Keeson Technology vs. Springsnow Food Group |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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