Correlation Between Eastroc Beverage and Kingsignal Technology
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By analyzing existing cross correlation between Eastroc Beverage Group and Kingsignal Technology Co, you can compare the effects of market volatilities on Eastroc Beverage and Kingsignal 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 Eastroc Beverage with a short position of Kingsignal Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eastroc Beverage and Kingsignal Technology.
Diversification Opportunities for Eastroc Beverage and Kingsignal Technology
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Eastroc and Kingsignal is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Eastroc Beverage Group and Kingsignal Technology Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kingsignal Technology and Eastroc Beverage 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 Eastroc Beverage Group are associated (or correlated) with Kingsignal Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kingsignal Technology has no effect on the direction of Eastroc Beverage i.e., Eastroc Beverage and Kingsignal Technology go up and down completely randomly.
Pair Corralation between Eastroc Beverage and Kingsignal Technology
Assuming the 90 days trading horizon Eastroc Beverage Group is expected to generate 0.43 times more return on investment than Kingsignal Technology. However, Eastroc Beverage Group is 2.31 times less risky than Kingsignal Technology. It trades about 0.14 of its potential returns per unit of risk. Kingsignal Technology Co is currently generating about 0.04 per unit of risk. If you would invest 21,383 in Eastroc Beverage Group on October 30, 2024 and sell it today you would earn a total of 2,932 from holding Eastroc Beverage Group or generate 13.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Eastroc Beverage Group vs. Kingsignal Technology Co
Performance |
| Timeline |
| Eastroc Beverage |
| Kingsignal Technology |
Eastroc Beverage and Kingsignal Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eastroc Beverage and Kingsignal Technology
The main advantage of trading using opposite Eastroc Beverage and Kingsignal Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eastroc Beverage position performs unexpectedly, Kingsignal 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 Kingsignal Technology will offset losses from the drop in Kingsignal Technology's long position.| Eastroc Beverage vs. Agricultural Bank of | Eastroc Beverage vs. Industrial and Commercial | Eastroc Beverage vs. Bank of China | Eastroc Beverage vs. China Construction Bank |
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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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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