Correlation Between CK Asset and Agile Group
Can any of the company-specific risk be diversified away by investing in both CK Asset and Agile Group 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 CK Asset and Agile Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between CK Asset Holdings and Agile Group Holdings, you can compare the effects of market volatilities on CK Asset and Agile Group 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 CK Asset with a short position of Agile Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of CK Asset and Agile Group.
Diversification Opportunities for CK Asset and Agile Group
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between CHKGF and Agile is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CK Asset Holdings and Agile Group Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agile Group Holdings and CK Asset 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 CK Asset Holdings are associated (or correlated) with Agile Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Agile Group Holdings has no effect on the direction of CK Asset i.e., CK Asset and Agile Group go up and down completely randomly.
Pair Corralation between CK Asset and Agile Group
If you would invest (100.00) in CK Asset Holdings on January 12, 2025 and sell it today you would earn a total of 100.00 from holding CK Asset Holdings or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
CK Asset Holdings vs. Agile Group Holdings
Performance |
| Timeline |
| CK Asset Holdings |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
| Agile Group Holdings |
CK Asset and Agile Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with CK Asset and Agile Group
The main advantage of trading using opposite CK Asset and Agile Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CK Asset position performs unexpectedly, Agile Group 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 Agile Group will offset losses from the drop in Agile Group's long position.| CK Asset vs. Hong Kong Land | CK Asset vs. Sino Land Co | CK Asset vs. CK Hutchison Holdings | CK Asset vs. CK Hutchison Holdings |
| Agile Group vs. China Resources Land | Agile Group vs. Sun Hung Kai | Agile Group vs. China Overseas Land | Agile Group vs. EGRNF |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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