Correlation Between Keli Sensing and Linewell Software
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By analyzing existing cross correlation between Keli Sensing Technology and Linewell Software Co, you can compare the effects of market volatilities on Keli Sensing and Linewell Software 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 Linewell Software. Check out your portfolio center. Please also check ongoing floating volatility patterns of Keli Sensing and Linewell Software.
Diversification Opportunities for Keli Sensing and Linewell Software
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Keli and Linewell is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Keli Sensing Technology and Linewell Software Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Linewell Software 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 Linewell Software. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Linewell Software has no effect on the direction of Keli Sensing i.e., Keli Sensing and Linewell Software go up and down completely randomly.
Pair Corralation between Keli Sensing and Linewell Software
Assuming the 90 days trading horizon Keli Sensing Technology is expected to generate 1.18 times more return on investment than Linewell Software. However, Keli Sensing is 1.18 times more volatile than Linewell Software Co. It trades about 0.08 of its potential returns per unit of risk. Linewell Software Co is currently generating about 0.01 per unit of risk. If you would invest 1,659 in Keli Sensing Technology on September 3, 2024 and sell it today you would earn a total of 3,445 from holding Keli Sensing Technology or generate 207.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Keli Sensing Technology vs. Linewell Software Co
Performance |
| Timeline |
| Keli Sensing Technology |
| Linewell Software |
Keli Sensing and Linewell Software Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Keli Sensing and Linewell Software
The main advantage of trading using opposite Keli Sensing and Linewell Software positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Keli Sensing position performs unexpectedly, Linewell Software 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 Linewell Software will offset losses from the drop in Linewell Software's long position.| Keli Sensing vs. Zhongtong Guomai Communication | Keli Sensing vs. Anhui Fuhuang Steel | Keli Sensing vs. Jonjee Hi tech Industrial | Keli Sensing vs. Dongjiang Environmental Co |
| Linewell Software vs. Agricultural Bank of | Linewell Software vs. China Construction Bank | Linewell Software vs. Postal Savings Bank | Linewell Software 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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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