Correlation Between Biwin Storage and Kweichow Moutai
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By analyzing existing cross correlation between Biwin Storage Technology and Kweichow Moutai Co, you can compare the effects of market volatilities on Biwin Storage and Kweichow Moutai 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 Biwin Storage with a short position of Kweichow Moutai. Check out your portfolio center. Please also check ongoing floating volatility patterns of Biwin Storage and Kweichow Moutai.
Diversification Opportunities for Biwin Storage and Kweichow Moutai
0.87 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Biwin and Kweichow is 0.87. Overlapping area represents the amount of risk that can be diversified away by holding Biwin Storage Technology and Kweichow Moutai Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kweichow Moutai and Biwin Storage 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 Biwin Storage Technology are associated (or correlated) with Kweichow Moutai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kweichow Moutai has no effect on the direction of Biwin Storage i.e., Biwin Storage and Kweichow Moutai go up and down completely randomly.
Pair Corralation between Biwin Storage and Kweichow Moutai
Assuming the 90 days trading horizon Biwin Storage Technology is expected to under-perform the Kweichow Moutai. In addition to that, Biwin Storage is 2.93 times more volatile than Kweichow Moutai Co. It trades about 0.0 of its total potential returns per unit of risk. Kweichow Moutai Co is currently generating about 0.0 per unit of volatility. If you would invest 164,278 in Kweichow Moutai Co on August 31, 2024 and sell it today you would lose (11,704) from holding Kweichow Moutai Co or give up 7.12% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Biwin Storage Technology vs. Kweichow Moutai Co
Performance |
| Timeline |
| Biwin Storage Technology |
| Kweichow Moutai |
Biwin Storage and Kweichow Moutai Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Biwin Storage and Kweichow Moutai
The main advantage of trading using opposite Biwin Storage and Kweichow Moutai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Biwin Storage position performs unexpectedly, Kweichow Moutai 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 Kweichow Moutai will offset losses from the drop in Kweichow Moutai's long position.| Biwin Storage vs. Kweichow Moutai Co | Biwin Storage vs. NAURA Technology Group | Biwin Storage vs. APT Medical | Biwin Storage vs. Contemporary Amperex Technology |
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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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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