Correlation Between Kingfa Science and Embassy Office
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By analyzing existing cross correlation between Kingfa Science Technology and Embassy Office Parks, you can compare the effects of market volatilities on Kingfa Science and Embassy Office 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 Kingfa Science with a short position of Embassy Office. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kingfa Science and Embassy Office.
Diversification Opportunities for Kingfa Science and Embassy Office
0.43 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Kingfa and Embassy is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding Kingfa Science Technology and Embassy Office Parks in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Embassy Office Parks and Kingfa Science 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 Kingfa Science Technology are associated (or correlated) with Embassy Office. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Embassy Office Parks has no effect on the direction of Kingfa Science i.e., Kingfa Science and Embassy Office go up and down completely randomly.
Pair Corralation between Kingfa Science and Embassy Office
Assuming the 90 days trading horizon Kingfa Science Technology is expected to generate 1.76 times more return on investment than Embassy Office. However, Kingfa Science is 1.76 times more volatile than Embassy Office Parks. It trades about 0.0 of its potential returns per unit of risk. Embassy Office Parks is currently generating about -0.39 per unit of risk. If you would invest 310,160 in Kingfa Science Technology on September 4, 2024 and sell it today you would lose (670.00) from holding Kingfa Science Technology or give up 0.22% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Kingfa Science Technology vs. Embassy Office Parks
Performance |
| Timeline |
| Kingfa Science Technology |
| Embassy Office Parks |
Kingfa Science and Embassy Office Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kingfa Science and Embassy Office
The main advantage of trading using opposite Kingfa Science and Embassy Office positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kingfa Science position performs unexpectedly, Embassy Office 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 Embassy Office will offset losses from the drop in Embassy Office's long position.| Kingfa Science vs. NMDC Limited | Kingfa Science vs. Steel Authority of | Kingfa Science vs. Embassy Office Parks | Kingfa Science vs. Gujarat Narmada Valley |
| Embassy Office vs. NMDC Limited | Embassy Office vs. Steel Authority of | Embassy Office vs. Gujarat Narmada Valley | Embassy Office vs. Gujarat Alkalies and |
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 CEOs Directory module to screen CEOs from public companies around the world.
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