Correlation Between Keli Sensing and Bomin Electronics
Specify exactly 2 symbols:
By analyzing existing cross correlation between Keli Sensing Technology and Bomin Electronics Co, you can compare the effects of market volatilities on Keli Sensing and Bomin Electronics 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 Bomin Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Keli Sensing and Bomin Electronics.
Diversification Opportunities for Keli Sensing and Bomin Electronics
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Keli and Bomin is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding Keli Sensing Technology and Bomin Electronics Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bomin Electronics 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 Bomin Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bomin Electronics has no effect on the direction of Keli Sensing i.e., Keli Sensing and Bomin Electronics go up and down completely randomly.
Pair Corralation between Keli Sensing and Bomin Electronics
Assuming the 90 days trading horizon Keli Sensing Technology is expected to generate 2.17 times more return on investment than Bomin Electronics. However, Keli Sensing is 2.17 times more volatile than Bomin Electronics Co. It trades about 0.21 of its potential returns per unit of risk. Bomin Electronics Co is currently generating about 0.45 per unit of risk. If you would invest 7,621 in Keli Sensing Technology on November 27, 2024 and sell it today you would earn a total of 1,014 from holding Keli Sensing Technology or generate 13.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Keli Sensing Technology vs. Bomin Electronics Co
Performance |
| Timeline |
| Keli Sensing Technology |
| Bomin Electronics |
Keli Sensing and Bomin Electronics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Keli Sensing and Bomin Electronics
The main advantage of trading using opposite Keli Sensing and Bomin Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Keli Sensing position performs unexpectedly, Bomin Electronics 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 Bomin Electronics will offset losses from the drop in Bomin Electronics' long position.| Keli Sensing vs. Zhongjing Food Co | Keli Sensing vs. Jiamei Food Packaging | Keli Sensing vs. Cicc Fund Management | Keli Sensing vs. Xinjiang Tianrun Dairy |
| Bomin Electronics vs. Huawen Media Investment | Bomin Electronics vs. Guizhou BroadcastingTV Info | Bomin Electronics vs. Anshan Senyuan Road | Bomin Electronics vs. Beijing Mainstreets Investment |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
Other Complementary Tools
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years |