Correlation Between Beijing Kingsoft and V V
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By analyzing existing cross correlation between Beijing Kingsoft Office and V V Food, you can compare the effects of market volatilities on Beijing Kingsoft and V V 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 V V. Check out your portfolio center. Please also check ongoing floating volatility patterns of Beijing Kingsoft and V V.
Diversification Opportunities for Beijing Kingsoft and V V
0.71 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Beijing and 600300 is 0.71. Overlapping area represents the amount of risk that can be diversified away by holding Beijing Kingsoft Office and V V Food in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on V V Food 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 V V. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of V V Food has no effect on the direction of Beijing Kingsoft i.e., Beijing Kingsoft and V V go up and down completely randomly.
Pair Corralation between Beijing Kingsoft and V V
Assuming the 90 days trading horizon Beijing Kingsoft Office is expected to under-perform the V V. In addition to that, Beijing Kingsoft is 1.73 times more volatile than V V Food. It trades about -0.01 of its total potential returns per unit of risk. V V Food is currently generating about 0.01 per unit of volatility. If you would invest 308.00 in V V Food on October 16, 2024 and sell it today you would lose (8.00) from holding V V Food or give up 2.6% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Beijing Kingsoft Office vs. V V Food
Performance |
| Timeline |
| Beijing Kingsoft Office |
| V V Food |
Beijing Kingsoft and V V Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Beijing Kingsoft and V V
The main advantage of trading using opposite Beijing Kingsoft and V V positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Beijing Kingsoft position performs unexpectedly, V V 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 V V will offset losses from the drop in V V's long position.| Beijing Kingsoft vs. Lotus Health Group | Beijing Kingsoft vs. Shandong Sinoglory Health | Beijing Kingsoft vs. Mingchen Health Co | Beijing Kingsoft vs. Everjoy Health Group |
| V V vs. Nanjing Putian Telecommunications | V V vs. Beijing Kingsoft Office | V V vs. Bus Online Co | V V vs. Songz Automobile Air |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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