Correlation Between Kingfa Science and Infomedia Press
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By analyzing existing cross correlation between Kingfa Science Technology and Infomedia Press Limited, you can compare the effects of market volatilities on Kingfa Science and Infomedia Press 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 Infomedia Press. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kingfa Science and Infomedia Press.
Diversification Opportunities for Kingfa Science and Infomedia Press
0.34 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Kingfa and Infomedia is 0.34. Overlapping area represents the amount of risk that can be diversified away by holding Kingfa Science Technology and Infomedia Press Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Infomedia Press 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 Infomedia Press. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Infomedia Press has no effect on the direction of Kingfa Science i.e., Kingfa Science and Infomedia Press go up and down completely randomly.
Pair Corralation between Kingfa Science and Infomedia Press
Assuming the 90 days trading horizon Kingfa Science Technology is expected to under-perform the Infomedia Press. But the stock apears to be less risky and, when comparing its historical volatility, Kingfa Science Technology is 1.23 times less risky than Infomedia Press. The stock trades about -0.01 of its potential returns per unit of risk. The Infomedia Press Limited is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 717.00 in Infomedia Press Limited on October 18, 2024 and sell it today you would lose (37.00) from holding Infomedia Press Limited or give up 5.16% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kingfa Science Technology vs. Infomedia Press Limited
Performance |
| Timeline |
| Kingfa Science Technology |
| Infomedia Press |
Kingfa Science and Infomedia Press Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kingfa Science and Infomedia Press
The main advantage of trading using opposite Kingfa Science and Infomedia Press positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kingfa Science position performs unexpectedly, Infomedia Press 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 Infomedia Press will offset losses from the drop in Infomedia Press' long position.| Kingfa Science vs. Mrs Bectors Food | Kingfa Science vs. GPT Healthcare | Kingfa Science vs. Fortis Healthcare Limited | Kingfa Science vs. Max Healthcare Institute |
| Infomedia Press vs. Tata Communications Limited | Infomedia Press vs. Uniinfo Telecom Services | Infomedia Press vs. One 97 Communications | Infomedia Press vs. Pritish Nandy Communications |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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