Correlation Between APT Medical and Kunwu Jiuding
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By analyzing existing cross correlation between APT Medical and Kunwu Jiuding Investment, you can compare the effects of market volatilities on APT Medical and Kunwu Jiuding 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 APT Medical with a short position of Kunwu Jiuding. Check out your portfolio center. Please also check ongoing floating volatility patterns of APT Medical and Kunwu Jiuding.
Diversification Opportunities for APT Medical and Kunwu Jiuding
0.42 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between APT and Kunwu is 0.42. Overlapping area represents the amount of risk that can be diversified away by holding APT Medical and Kunwu Jiuding Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kunwu Jiuding Investment and APT 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 APT Medical are associated (or correlated) with Kunwu Jiuding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kunwu Jiuding Investment has no effect on the direction of APT Medical i.e., APT Medical and Kunwu Jiuding go up and down completely randomly.
Pair Corralation between APT Medical and Kunwu Jiuding
Assuming the 90 days trading horizon APT Medical is expected to generate 0.68 times more return on investment than Kunwu Jiuding. However, APT Medical is 1.48 times less risky than Kunwu Jiuding. It trades about 0.06 of its potential returns per unit of risk. Kunwu Jiuding Investment is currently generating about 0.03 per unit of risk. If you would invest 26,190 in APT Medical on September 14, 2024 and sell it today you would earn a total of 10,409 from holding APT Medical or generate 39.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
APT Medical vs. Kunwu Jiuding Investment
Performance |
| Timeline |
| APT Medical |
| Kunwu Jiuding Investment |
APT Medical and Kunwu Jiuding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with APT Medical and Kunwu Jiuding
The main advantage of trading using opposite APT Medical and Kunwu Jiuding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if APT Medical position performs unexpectedly, Kunwu Jiuding 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 Kunwu Jiuding will offset losses from the drop in Kunwu Jiuding's long position.| APT Medical vs. Industrial and Commercial | APT Medical vs. Kweichow Moutai Co | APT Medical vs. Agricultural Bank of | APT Medical vs. China Mobile Limited |
| Kunwu Jiuding vs. Lier Chemical Co | Kunwu Jiuding vs. Shenyang Chemical Industry | Kunwu Jiuding vs. Guangzhou Jinyi Media | Kunwu Jiuding vs. Beijing Jiaman Dress |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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