Correlation Between Kunshan Guoli and Lander Sports
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By analyzing existing cross correlation between Kunshan Guoli Electronic and Lander Sports Development, you can compare the effects of market volatilities on Kunshan Guoli and Lander Sports 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 Kunshan Guoli with a short position of Lander Sports. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kunshan Guoli and Lander Sports.
Diversification Opportunities for Kunshan Guoli and Lander Sports
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Kunshan and Lander is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Kunshan Guoli Electronic and Lander Sports Development in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Lander Sports Development and Kunshan Guoli 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 Kunshan Guoli Electronic are associated (or correlated) with Lander Sports. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Lander Sports Development has no effect on the direction of Kunshan Guoli i.e., Kunshan Guoli and Lander Sports go up and down completely randomly.
Pair Corralation between Kunshan Guoli and Lander Sports
Assuming the 90 days trading horizon Kunshan Guoli Electronic is expected to under-perform the Lander Sports. In addition to that, Kunshan Guoli is 1.39 times more volatile than Lander Sports Development. It trades about -0.02 of its total potential returns per unit of risk. Lander Sports Development is currently generating about 0.01 per unit of volatility. If you would invest 306.00 in Lander Sports Development on August 29, 2024 and sell it today you would lose (13.00) from holding Lander Sports Development or give up 4.25% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kunshan Guoli Electronic vs. Lander Sports Development
Performance |
| Timeline |
| Kunshan Guoli Electronic |
| Lander Sports Development |
Kunshan Guoli and Lander Sports Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kunshan Guoli and Lander Sports
The main advantage of trading using opposite Kunshan Guoli and Lander Sports positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kunshan Guoli position performs unexpectedly, Lander Sports 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 Lander Sports will offset losses from the drop in Lander Sports' long position.| Kunshan Guoli vs. China State Construction | Kunshan Guoli vs. Huafa Industrial Co | Kunshan Guoli vs. China International Capital | Kunshan Guoli vs. Kweichow Moutai Co |
| Lander Sports vs. Cambricon Technologies Corp | Lander Sports vs. Empyrean Technology Co | Lander Sports vs. Kuang Chi Technologies | Lander Sports vs. Gansu Jiu Steel |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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