Correlation Between KraneShares MSCI and KraneShares
Can any of the company-specific risk be diversified away by investing in both KraneShares MSCI and KraneShares 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 KraneShares MSCI and KraneShares into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between KraneShares MSCI All and KraneShares, you can compare the effects of market volatilities on KraneShares MSCI and KraneShares 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 KraneShares MSCI with a short position of KraneShares. Check out your portfolio center. Please also check ongoing floating volatility patterns of KraneShares MSCI and KraneShares.
Diversification Opportunities for KraneShares MSCI and KraneShares
-0.31 | Correlation Coefficient |
Very good diversification
The 3 months correlation between KraneShares and KraneShares is -0.31. Overlapping area represents the amount of risk that can be diversified away by holding KraneShares MSCI All and KraneShares in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KraneShares and KraneShares MSCI 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 KraneShares MSCI All are associated (or correlated) with KraneShares. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KraneShares has no effect on the direction of KraneShares MSCI i.e., KraneShares MSCI and KraneShares go up and down completely randomly.
Pair Corralation between KraneShares MSCI and KraneShares
If you would invest 2,091 in KraneShares on September 1, 2024 and sell it today you would earn a total of 0.00 from holding KraneShares or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 4.55% |
| Values | Daily Returns |
KraneShares MSCI All vs. KraneShares
Performance |
| Timeline |
| KraneShares MSCI All |
| KraneShares |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
KraneShares MSCI and KraneShares Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with KraneShares MSCI and KraneShares
The main advantage of trading using opposite KraneShares MSCI and KraneShares positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if KraneShares MSCI position performs unexpectedly, KraneShares 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 KraneShares will offset losses from the drop in KraneShares' long position.| KraneShares MSCI vs. Xtrackers Harvest CSI | KraneShares MSCI vs. Aquagold International | KraneShares MSCI vs. Thrivent High Yield | KraneShares MSCI vs. Morningstar Unconstrained Allocation |
| KraneShares vs. KraneShares Emerging Markets | KraneShares vs. KraneShares MSCI All | KraneShares vs. KraneShares MSCI All |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
Other Complementary Tools
| Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios |