Correlation Between 36Kr Holdings and DGTL Holdings
Can any of the company-specific risk be diversified away by investing in both 36Kr Holdings and DGTL Holdings 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 36Kr Holdings and DGTL Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between 36Kr Holdings and DGTL Holdings, you can compare the effects of market volatilities on 36Kr Holdings and DGTL Holdings 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 36Kr Holdings with a short position of DGTL Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of 36Kr Holdings and DGTL Holdings.
Diversification Opportunities for 36Kr Holdings and DGTL Holdings
0.41 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between 36Kr and DGTL is 0.41. Overlapping area represents the amount of risk that can be diversified away by holding 36Kr Holdings and DGTL Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on DGTL Holdings and 36Kr Holdings 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 36Kr Holdings are associated (or correlated) with DGTL Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of DGTL Holdings has no effect on the direction of 36Kr Holdings i.e., 36Kr Holdings and DGTL Holdings go up and down completely randomly.
Pair Corralation between 36Kr Holdings and DGTL Holdings
If you would invest 0.60 in DGTL Holdings on August 27, 2024 and sell it today you would earn a total of 0.00 from holding DGTL Holdings or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
36Kr Holdings vs. DGTL Holdings
Performance |
| Timeline |
| 36Kr Holdings |
| DGTL Holdings |
36Kr Holdings and DGTL Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 36Kr Holdings and DGTL Holdings
The main advantage of trading using opposite 36Kr Holdings and DGTL Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 36Kr Holdings position performs unexpectedly, DGTL Holdings 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 DGTL Holdings will offset losses from the drop in DGTL Holdings' long position.| 36Kr Holdings vs. Yunji Inc | 36Kr Holdings vs. Fangdd Network Group | 36Kr Holdings vs. Huize Holding | 36Kr Holdings vs. MOGU Inc |
| DGTL Holdings vs. Tinybeans Group Limited | DGTL Holdings vs. Sabio Holdings | DGTL Holdings vs. Zoomd Technologies | DGTL Holdings vs. Quizam Media |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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