Correlation Between Keli Sensing and Northking Information
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By analyzing existing cross correlation between Keli Sensing Technology and Northking Information Technology, you can compare the effects of market volatilities on Keli Sensing and Northking Information 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 Northking Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Keli Sensing and Northking Information.
Diversification Opportunities for Keli Sensing and Northking Information
0.7 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Keli and Northking is 0.7. Overlapping area represents the amount of risk that can be diversified away by holding Keli Sensing Technology and Northking Information Technolo in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Northking Information 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 Northking Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Northking Information has no effect on the direction of Keli Sensing i.e., Keli Sensing and Northking Information go up and down completely randomly.
Pair Corralation between Keli Sensing and Northking Information
Assuming the 90 days trading horizon Keli Sensing Technology is expected to generate 1.15 times more return on investment than Northking Information. However, Keli Sensing is 1.15 times more volatile than Northking Information Technology. It trades about 0.26 of its potential returns per unit of risk. Northking Information Technology is currently generating about 0.14 per unit of risk. If you would invest 2,409 in Keli Sensing Technology on August 30, 2024 and sell it today you would earn a total of 2,231 from holding Keli Sensing Technology or generate 92.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Keli Sensing Technology vs. Northking Information Technolo
Performance |
| Timeline |
| Keli Sensing Technology |
| Northking Information |
Keli Sensing and Northking Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Keli Sensing and Northking Information
The main advantage of trading using opposite Keli Sensing and Northking Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Keli Sensing position performs unexpectedly, Northking Information 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 Northking Information will offset losses from the drop in Northking Information's long position.| Keli Sensing vs. Songz Automobile Air | Keli Sensing vs. Guangzhou Ruoyuchen Information | Keli Sensing vs. Allwin Telecommunication Co | Keli Sensing vs. Changchun Engley Automobile |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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