Correlation Between China Tontine and Kingsmen Creatives
Can any of the company-specific risk be diversified away by investing in both China Tontine and Kingsmen Creatives at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining China Tontine and Kingsmen Creatives into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between China Tontine Wines and Kingsmen Creatives, you can compare the effects of market volatilities on China Tontine and Kingsmen Creatives 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 China Tontine with a short position of Kingsmen Creatives. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Tontine and Kingsmen Creatives.
Diversification Opportunities for China Tontine and Kingsmen Creatives
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between China and Kingsmen is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding China Tontine Wines and Kingsmen Creatives in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kingsmen Creatives and China Tontine 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 China Tontine Wines are associated (or correlated) with Kingsmen Creatives. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kingsmen Creatives has no effect on the direction of China Tontine i.e., China Tontine and Kingsmen Creatives go up and down completely randomly.
Pair Corralation between China Tontine and Kingsmen Creatives
If you would invest 7.10 in China Tontine Wines on September 21, 2024 and sell it today you would earn a total of 0.00 from holding China Tontine Wines or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 99.07% |
| Values | Daily Returns |
China Tontine Wines vs. Kingsmen Creatives
Performance |
| Timeline |
| China Tontine Wines |
| Kingsmen Creatives |
China Tontine and Kingsmen Creatives Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China Tontine and Kingsmen Creatives
The main advantage of trading using opposite China Tontine and Kingsmen Creatives positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Tontine position performs unexpectedly, Kingsmen Creatives 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 Kingsmen Creatives will offset losses from the drop in Kingsmen Creatives' long position.| China Tontine vs. Old Republic International | China Tontine vs. Papaya Growth Opportunity | China Tontine vs. Zijin Mining Group | China Tontine vs. Western Asset Investment |
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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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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