Correlation Between Keli Sensing and Shenzhen Sunlord
Specify exactly 2 symbols:
By analyzing existing cross correlation between Keli Sensing Technology and Shenzhen Sunlord Electronics, you can compare the effects of market volatilities on Keli Sensing and Shenzhen Sunlord 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 Keli Sensing with a short position of Shenzhen Sunlord. Check out your portfolio center. Please also check ongoing floating volatility patterns of Keli Sensing and Shenzhen Sunlord.
Diversification Opportunities for Keli Sensing and Shenzhen Sunlord
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Keli and Shenzhen is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Keli Sensing Technology and Shenzhen Sunlord Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenzhen Sunlord Ele and Keli Sensing 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 Keli Sensing Technology are associated (or correlated) with Shenzhen Sunlord. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenzhen Sunlord Ele has no effect on the direction of Keli Sensing i.e., Keli Sensing and Shenzhen Sunlord go up and down completely randomly.
Pair Corralation between Keli Sensing and Shenzhen Sunlord
Assuming the 90 days trading horizon Keli Sensing Technology is expected to generate 2.41 times more return on investment than Shenzhen Sunlord. However, Keli Sensing is 2.41 times more volatile than Shenzhen Sunlord Electronics. It trades about 0.31 of its potential returns per unit of risk. Shenzhen Sunlord Electronics is currently generating about 0.11 per unit of risk. If you would invest 3,661 in Keli Sensing Technology on September 5, 2024 and sell it today you would earn a total of 1,636 from holding Keli Sensing Technology or generate 44.69% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Keli Sensing Technology vs. Shenzhen Sunlord Electronics
Performance |
| Timeline |
| Keli Sensing Technology |
| Shenzhen Sunlord Ele |
Keli Sensing and Shenzhen Sunlord Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Keli Sensing and Shenzhen Sunlord
The main advantage of trading using opposite Keli Sensing and Shenzhen Sunlord positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Keli Sensing position performs unexpectedly, Shenzhen Sunlord 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 Shenzhen Sunlord will offset losses from the drop in Shenzhen Sunlord's long position.| Keli Sensing vs. Biwin Storage Technology | Keli Sensing vs. PetroChina Co Ltd | Keli Sensing vs. Industrial and Commercial | Keli Sensing vs. China Construction Bank |
| Shenzhen Sunlord vs. Keli Sensing Technology | Shenzhen Sunlord vs. Guangzhou Zhujiang Brewery | Shenzhen Sunlord vs. Linewell Software Co | Shenzhen Sunlord vs. Anhui Transport Consulting |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Other Complementary Tools
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Stock Screener Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook. | |
| Headlines Timeline Stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets |