Correlation Between Kontour Medical and YLZ Information
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By analyzing existing cross correlation between Kontour Medical Technology and YLZ Information Tech, you can compare the effects of market volatilities on Kontour Medical and YLZ Information 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 YLZ Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kontour Medical and YLZ Information.
Diversification Opportunities for Kontour Medical and YLZ Information
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Kontour and YLZ is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding Kontour Medical Technology and YLZ Information Tech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on YLZ Information Tech 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 YLZ Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of YLZ Information Tech has no effect on the direction of Kontour Medical i.e., Kontour Medical and YLZ Information go up and down completely randomly.
Pair Corralation between Kontour Medical and YLZ Information
Assuming the 90 days trading horizon Kontour Medical Technology is expected to generate 0.77 times more return on investment than YLZ Information. However, Kontour Medical Technology is 1.29 times less risky than YLZ Information. It trades about 0.15 of its potential returns per unit of risk. YLZ Information Tech is currently generating about 0.0 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. YLZ Information Tech
Performance |
| Timeline |
| Kontour Medical Tech |
| YLZ Information Tech |
Kontour Medical and YLZ Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kontour Medical and YLZ Information
The main advantage of trading using opposite Kontour Medical and YLZ Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kontour Medical position performs unexpectedly, YLZ Information 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 YLZ Information will offset losses from the drop in YLZ Information'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 |
| YLZ Information vs. Ming Yang Smart | YLZ Information vs. 159681 | YLZ Information vs. 159005 | YLZ Information vs. Loctek Ergonomic 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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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