Correlation Between Keli Sensing and ROPEOK Technology
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By analyzing existing cross correlation between Keli Sensing Technology and ROPEOK Technology Group, you can compare the effects of market volatilities on Keli Sensing and ROPEOK 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 Keli Sensing with a short position of ROPEOK Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Keli Sensing and ROPEOK Technology.
Diversification Opportunities for Keli Sensing and ROPEOK Technology
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Keli and ROPEOK is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding Keli Sensing Technology and ROPEOK Technology Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ROPEOK Technology 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 ROPEOK Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ROPEOK Technology has no effect on the direction of Keli Sensing i.e., Keli Sensing and ROPEOK Technology go up and down completely randomly.
Pair Corralation between Keli Sensing and ROPEOK Technology
Assuming the 90 days trading horizon Keli Sensing Technology is expected to generate 1.77 times more return on investment than ROPEOK Technology. However, Keli Sensing is 1.77 times more volatile than ROPEOK Technology Group. It trades about 0.3 of its potential returns per unit of risk. ROPEOK Technology Group is currently generating about 0.13 per unit of risk. If you would invest 3,299 in Keli Sensing Technology on August 30, 2024 and sell it today you would earn a total of 1,385 from holding Keli Sensing Technology or generate 41.98% 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. ROPEOK Technology Group
Performance |
| Timeline |
| Keli Sensing Technology |
| ROPEOK Technology |
Keli Sensing and ROPEOK Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Keli Sensing and ROPEOK Technology
The main advantage of trading using opposite Keli Sensing and ROPEOK Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Keli Sensing position performs unexpectedly, ROPEOK 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 ROPEOK Technology will offset losses from the drop in ROPEOK Technology's long position.| Keli Sensing vs. China Petroleum Chemical | Keli Sensing vs. PetroChina Co Ltd | Keli Sensing vs. China State Construction | Keli Sensing vs. China Railway Group |
| ROPEOK Technology vs. Western Superconducting Tech | ROPEOK Technology vs. Keli Sensing Technology | ROPEOK Technology vs. China National Software | ROPEOK Technology vs. Anhui Gujing Distillery |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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