Correlation Between Olympic Circuit and Keeson Technology
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By analyzing existing cross correlation between Olympic Circuit Technology and Keeson Technology Corp, you can compare the effects of market volatilities on Olympic Circuit and Keeson 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 Olympic Circuit with a short position of Keeson Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Olympic Circuit and Keeson Technology.
Diversification Opportunities for Olympic Circuit and Keeson Technology
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Olympic and Keeson is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Olympic Circuit Technology and Keeson Technology Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Keeson Technology Corp and Olympic Circuit 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 Olympic Circuit Technology are associated (or correlated) with Keeson Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Keeson Technology Corp has no effect on the direction of Olympic Circuit i.e., Olympic Circuit and Keeson Technology go up and down completely randomly.
Pair Corralation between Olympic Circuit and Keeson Technology
Assuming the 90 days trading horizon Olympic Circuit Technology is expected to generate 0.68 times more return on investment than Keeson Technology. However, Olympic Circuit Technology is 1.47 times less risky than Keeson Technology. It trades about 0.12 of its potential returns per unit of risk. Keeson Technology Corp is currently generating about 0.02 per unit of risk. If you would invest 3,049 in Olympic Circuit Technology on October 18, 2024 and sell it today you would earn a total of 259.00 from holding Olympic Circuit Technology or generate 8.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Olympic Circuit Technology vs. Keeson Technology Corp
Performance |
| Timeline |
| Olympic Circuit Tech |
| Keeson Technology Corp |
Olympic Circuit and Keeson Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Olympic Circuit and Keeson Technology
The main advantage of trading using opposite Olympic Circuit and Keeson Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Olympic Circuit position performs unexpectedly, Keeson 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 Keeson Technology will offset losses from the drop in Keeson Technology's long position.| Olympic Circuit vs. Strait Innovation Internet | Olympic Circuit vs. Fiberhome Telecommunication Technologies | Olympic Circuit vs. Wuhan Yangtze Communication | Olympic Circuit vs. Suzhou Mingzhi Technology |
| Keeson Technology vs. Kweichow Moutai Co | Keeson Technology vs. NAURA Technology Group | Keeson Technology vs. Zhejiang Orient Gene | Keeson Technology vs. APT Medical |
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 Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
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