Correlation Between Suzhou Douson and Keli Sensing
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By analyzing existing cross correlation between Suzhou Douson Drilling and Keli Sensing Technology, you can compare the effects of market volatilities on Suzhou Douson and Keli Sensing 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 Suzhou Douson with a short position of Keli Sensing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Suzhou Douson and Keli Sensing.
Diversification Opportunities for Suzhou Douson and Keli Sensing
0.87 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Suzhou and Keli is 0.87. Overlapping area represents the amount of risk that can be diversified away by holding Suzhou Douson Drilling and Keli Sensing Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Keli Sensing Technology and Suzhou Douson 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 Suzhou Douson Drilling are associated (or correlated) with Keli Sensing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Keli Sensing Technology has no effect on the direction of Suzhou Douson i.e., Suzhou Douson and Keli Sensing go up and down completely randomly.
Pair Corralation between Suzhou Douson and Keli Sensing
Assuming the 90 days trading horizon Suzhou Douson is expected to generate 226.57 times less return on investment than Keli Sensing. But when comparing it to its historical volatility, Suzhou Douson Drilling is 1.7 times less risky than Keli Sensing. It trades about 0.0 of its potential returns per unit of risk. Keli Sensing Technology is currently generating about 0.39 of returns per unit of risk over similar time horizon. If you would invest 3,383 in Keli Sensing Technology on August 28, 2024 and sell it today you would earn a total of 1,738 from holding Keli Sensing Technology or generate 51.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Suzhou Douson Drilling vs. Keli Sensing Technology
Performance |
| Timeline |
| Suzhou Douson Drilling |
| Keli Sensing Technology |
Suzhou Douson and Keli Sensing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Suzhou Douson and Keli Sensing
The main advantage of trading using opposite Suzhou Douson and Keli Sensing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Suzhou Douson position performs unexpectedly, Keli Sensing 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 Keli Sensing will offset losses from the drop in Keli Sensing's long position.| Suzhou Douson vs. Dhc Software Co | Suzhou Douson vs. Jinhe Biotechnology Co | Suzhou Douson vs. Changchun UP Optotech | Suzhou Douson vs. Shandong Polymer Biochemicals |
| Keli Sensing vs. Kweichow Moutai Co | Keli Sensing vs. Shenzhen Mindray Bio Medical | Keli Sensing vs. Jiangsu Pacific Quartz | Keli Sensing vs. G bits Network Technology |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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