Correlation Between Kontour Medical and Maxvision Technology
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By analyzing existing cross correlation between Kontour Medical Technology and Maxvision Technology Corp, you can compare the effects of market volatilities on Kontour Medical and Maxvision Technology 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 Kontour Medical with a short position of Maxvision Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kontour Medical and Maxvision Technology.
Diversification Opportunities for Kontour Medical and Maxvision Technology
0.92 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Kontour and Maxvision is 0.92. Overlapping area represents the amount of risk that can be diversified away by holding Kontour Medical Technology and Maxvision Technology Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maxvision Technology Corp and Kontour Medical 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 Kontour Medical Technology are associated (or correlated) with Maxvision Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maxvision Technology Corp has no effect on the direction of Kontour Medical i.e., Kontour Medical and Maxvision Technology go up and down completely randomly.
Pair Corralation between Kontour Medical and Maxvision Technology
Assuming the 90 days trading horizon Kontour Medical Technology is expected to generate 1.02 times more return on investment than Maxvision Technology. However, Kontour Medical is 1.02 times more volatile than Maxvision Technology Corp. It trades about 0.15 of its potential returns per unit of risk. Maxvision Technology Corp is currently generating about 0.14 per unit of risk. If you would invest 2,637 in Kontour Medical Technology on September 1, 2024 and sell it today you would earn a total of 225.00 from holding Kontour Medical Technology or generate 8.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kontour Medical Technology vs. Maxvision Technology Corp
Performance |
| Timeline |
| Kontour Medical Tech |
| Maxvision Technology Corp |
Kontour Medical and Maxvision Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kontour Medical and Maxvision Technology
The main advantage of trading using opposite Kontour Medical and Maxvision Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kontour Medical position performs unexpectedly, Maxvision Technology 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 Maxvision Technology will offset losses from the drop in Maxvision Technology's long position.| Kontour Medical vs. Nanjing Putian Telecommunications | Kontour Medical vs. Shenzhen Hifuture Electric | Kontour Medical vs. Tianjin Realty Development | Kontour Medical vs. Shenyang Huitian Thermal |
| Maxvision Technology vs. Lingyuan Iron Steel | Maxvision Technology vs. Sino Medical Sciences | Maxvision Technology vs. Nanjing Vishee Medical | Maxvision Technology vs. Kontour Medical Technology |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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