Correlation Between Kunshan Guoli and Dow Jones
Specify exactly 2 symbols:
By analyzing existing cross correlation between Kunshan Guoli Electronic and Dow Jones Industrial, you can compare the effects of market volatilities on Kunshan Guoli and Dow Jones 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 Dow Jones. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kunshan Guoli and Dow Jones.
Diversification Opportunities for Kunshan Guoli and Dow Jones
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Kunshan and Dow is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding Kunshan Guoli Electronic and Dow Jones Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Dow Jones Industrial 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 Dow Jones. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Dow Jones Industrial has no effect on the direction of Kunshan Guoli i.e., Kunshan Guoli and Dow Jones go up and down completely randomly.
Pair Corralation between Kunshan Guoli and Dow Jones
Assuming the 90 days trading horizon Kunshan Guoli is expected to generate 6.82 times less return on investment than Dow Jones. In addition to that, Kunshan Guoli is 5.7 times more volatile than Dow Jones Industrial. It trades about 0.0 of its total potential returns per unit of risk. Dow Jones Industrial is currently generating about 0.1 per unit of volatility. If you would invest 3,768,954 in Dow Jones Industrial on August 25, 2024 and sell it today you would earn a total of 660,697 from holding Dow Jones Industrial or generate 17.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 94.76% |
| Values | Daily Returns |
Kunshan Guoli Electronic vs. Dow Jones Industrial
Performance |
| Timeline |
Kunshan Guoli and Dow Jones Volatility Contrast
Predicted Return Density |
| Returns |
Kunshan Guoli Electronic
Pair trading matchups for Kunshan Guoli
Dow Jones Industrial
Pair trading matchups for Dow Jones
Pair Trading with Kunshan Guoli and Dow Jones
The main advantage of trading using opposite Kunshan Guoli and Dow Jones positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kunshan Guoli position performs unexpectedly, Dow Jones 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 Dow Jones will offset losses from the drop in Dow Jones' long position.| Kunshan Guoli vs. Lander Sports Development | Kunshan Guoli vs. Hongrun Construction Group | Kunshan Guoli vs. Zhejiang Yinlun Machinery | Kunshan Guoli vs. Sinomach General Machinery |
| Dow Jones vs. Vistra Energy Corp | Dow Jones vs. Fluence Energy | Dow Jones vs. Old Republic International | Dow Jones vs. Empresa Distribuidora y |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| AI Portfolio Architect Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device |