Correlation Between Beijing Kingsoft and Guilin Seamild
Specify exactly 2 symbols:
By analyzing existing cross correlation between Beijing Kingsoft Office and Guilin Seamild Foods, you can compare the effects of market volatilities on Beijing Kingsoft and Guilin Seamild 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 Beijing Kingsoft with a short position of Guilin Seamild. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beijing Kingsoft and Guilin Seamild.
Diversification Opportunities for Beijing Kingsoft and Guilin Seamild
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Beijing and Guilin is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Kingsoft Office and Guilin Seamild Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guilin Seamild Foods and Beijing Kingsoft 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 Beijing Kingsoft Office are associated (or correlated) with Guilin Seamild. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guilin Seamild Foods has no effect on the direction of Beijing Kingsoft i.e., Beijing Kingsoft and Guilin Seamild go up and down completely randomly.
Pair Corralation between Beijing Kingsoft and Guilin Seamild
Assuming the 90 days trading horizon Beijing Kingsoft is expected to generate 1.39 times less return on investment than Guilin Seamild. In addition to that, Beijing Kingsoft is 1.6 times more volatile than Guilin Seamild Foods. It trades about 0.01 of its total potential returns per unit of risk. Guilin Seamild Foods is currently generating about 0.03 per unit of volatility. If you would invest 1,343 in Guilin Seamild Foods on October 11, 2024 and sell it today you would earn a total of 229.00 from holding Guilin Seamild Foods or generate 17.05% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Beijing Kingsoft Office vs. Guilin Seamild Foods
Performance |
| Timeline |
| Beijing Kingsoft Office |
| Guilin Seamild Foods |
Beijing Kingsoft and Guilin Seamild Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beijing Kingsoft and Guilin Seamild
The main advantage of trading using opposite Beijing Kingsoft and Guilin Seamild positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beijing Kingsoft position performs unexpectedly, Guilin Seamild 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 Guilin Seamild will offset losses from the drop in Guilin Seamild's long position.| Beijing Kingsoft vs. Eastroc Beverage Group | Beijing Kingsoft vs. Great Sun Foods Co | Beijing Kingsoft vs. Panda Dairy Corp | Beijing Kingsoft vs. JuneYao Dairy Co |
| Guilin Seamild vs. Beijing Kingsoft Office | Guilin Seamild vs. Fibocom Wireless | Guilin Seamild vs. Ningbo MedicalSystem Biotechnology | Guilin Seamild vs. Guangdong Marubi Biotechnology |
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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
Other Complementary Tools
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Companies Directory Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Insider Screener Find insiders across different sectors to evaluate their impact on performance |