Correlation Between ROPEOK Technology and Kingnet Network
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By analyzing existing cross correlation between ROPEOK Technology Group and Kingnet Network Co, you can compare the effects of market volatilities on ROPEOK Technology and Kingnet Network 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 ROPEOK Technology with a short position of Kingnet Network. Check out your portfolio center. Please also check ongoing floating volatility patterns of ROPEOK Technology and Kingnet Network.
Diversification Opportunities for ROPEOK Technology and Kingnet Network
0.96 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between ROPEOK and Kingnet is 0.96. Overlapping area represents the amount of risk that can be diversified away by holding ROPEOK Technology Group and Kingnet Network Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kingnet Network and ROPEOK Technology 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 ROPEOK Technology Group are associated (or correlated) with Kingnet Network. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kingnet Network has no effect on the direction of ROPEOK Technology i.e., ROPEOK Technology and Kingnet Network go up and down completely randomly.
Pair Corralation between ROPEOK Technology and Kingnet Network
Assuming the 90 days trading horizon ROPEOK Technology Group is expected to under-perform the Kingnet Network. In addition to that, ROPEOK Technology is 1.17 times more volatile than Kingnet Network Co. It trades about -0.02 of its total potential returns per unit of risk. Kingnet Network Co is currently generating about 0.0 per unit of volatility. If you would invest 1,678 in Kingnet Network Co on September 4, 2024 and sell it today you would lose (325.00) from holding Kingnet Network Co or give up 19.37% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
ROPEOK Technology Group vs. Kingnet Network Co
Performance |
| Timeline |
| ROPEOK Technology |
| Kingnet Network |
ROPEOK Technology and Kingnet Network Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ROPEOK Technology and Kingnet Network
The main advantage of trading using opposite ROPEOK Technology and Kingnet Network positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ROPEOK Technology position performs unexpectedly, Kingnet Network 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 Kingnet Network will offset losses from the drop in Kingnet Network's long position.| ROPEOK Technology vs. Shenzhen Centralcon Investment | ROPEOK Technology vs. Shanghai Action Education | ROPEOK Technology vs. Duzhe Publishing Media | ROPEOK Technology vs. Tieling Newcity Investment |
| Kingnet Network vs. Tianshui Huatian Technology | Kingnet Network vs. Anhui Liuguo Chemical | Kingnet Network vs. Jinhe Biotechnology Co | Kingnet Network vs. Changchun UP Optotech |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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