Correlation Between Eastroc Beverage and Keeson Technology
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By analyzing existing cross correlation between Eastroc Beverage Group and Keeson Technology Corp, you can compare the effects of market volatilities on Eastroc Beverage 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 Eastroc Beverage with a short position of Keeson Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eastroc Beverage and Keeson Technology.
Diversification Opportunities for Eastroc Beverage and Keeson Technology
0.63 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Eastroc and Keeson is 0.63. Overlapping area represents the amount of risk that can be diversified away by holding Eastroc Beverage Group 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 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 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 Eastroc Beverage i.e., Eastroc Beverage and Keeson Technology go up and down completely randomly.
Pair Corralation between Eastroc Beverage and Keeson Technology
Assuming the 90 days trading horizon Eastroc Beverage Group is expected to generate 0.57 times more return on investment than Keeson Technology. However, Eastroc Beverage Group is 1.75 times less risky than Keeson Technology. It trades about 0.14 of its potential returns per unit of risk. Keeson Technology Corp is currently generating about 0.07 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 | Significant |
| Accuracy | 97.62% |
| Values | Daily Returns |
Eastroc Beverage Group vs. Keeson Technology Corp
Performance |
| Timeline |
| Eastroc Beverage |
| Keeson Technology Corp |
Eastroc Beverage and Keeson Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eastroc Beverage and Keeson Technology
The main advantage of trading using opposite Eastroc Beverage and Keeson Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eastroc Beverage 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.| Eastroc Beverage vs. Agricultural Bank of | Eastroc Beverage vs. Industrial and Commercial | Eastroc Beverage vs. Bank of China | Eastroc Beverage vs. China Construction Bank |
| Keeson Technology vs. Cloud Live Technology | Keeson Technology vs. Nanjing Putian Telecommunications | Keeson Technology vs. Shenzhen Coship Electronics | Keeson Technology vs. Shenzhen Hifuture Electric |
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 Portfolio Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
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