Correlation Between Piotech and Kuang Chi
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By analyzing existing cross correlation between Piotech Inc A and Kuang Chi Technologies, you can compare the effects of market volatilities on Piotech and Kuang Chi 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 Piotech with a short position of Kuang Chi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Piotech and Kuang Chi.
Diversification Opportunities for Piotech and Kuang Chi
Very weak diversification
The 3 months correlation between Piotech and Kuang is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding Piotech Inc A and Kuang Chi Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kuang Chi Technologies and Piotech 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 Piotech Inc A are associated (or correlated) with Kuang Chi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kuang Chi Technologies has no effect on the direction of Piotech i.e., Piotech and Kuang Chi go up and down completely randomly.
Pair Corralation between Piotech and Kuang Chi
Assuming the 90 days trading horizon Piotech is expected to generate 4.35 times less return on investment than Kuang Chi. In addition to that, Piotech is 1.33 times more volatile than Kuang Chi Technologies. It trades about 0.01 of its total potential returns per unit of risk. Kuang Chi Technologies is currently generating about 0.07 per unit of volatility. If you would invest 1,811 in Kuang Chi Technologies on October 15, 2024 and sell it today you would earn a total of 2,219 from holding Kuang Chi Technologies or generate 122.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Piotech Inc A vs. Kuang Chi Technologies
Performance |
| Timeline |
| Piotech Inc A |
| Kuang Chi Technologies |
Piotech and Kuang Chi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Piotech and Kuang Chi
The main advantage of trading using opposite Piotech and Kuang Chi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Piotech position performs unexpectedly, Kuang Chi 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 Kuang Chi will offset losses from the drop in Kuang Chi's long position.| Piotech vs. Hubeiyichang Transportation Group | Piotech vs. Hainan Haiqi Transportation | Piotech vs. Tieling Newcity Investment | Piotech vs. Zoje Resources Investment |
| Kuang Chi vs. China World Trade | Kuang Chi vs. XiaMen HongXin Electron tech | Kuang Chi vs. Sharetronic Data Technology | Kuang Chi vs. China Eastern Airlines |
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 Earnings Calls module to check upcoming earnings announcements updated hourly across public exchanges.
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