Correlation Between 36Kr Holdings and Courtside Group,
Can any of the company-specific risk be diversified away by investing in both 36Kr Holdings and Courtside 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 36Kr Holdings and Courtside Group, into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between 36Kr Holdings and Courtside Group, Common, you can compare the effects of market volatilities on 36Kr Holdings and Courtside 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 36Kr Holdings with a short position of Courtside Group,. Check out your portfolio center. Please also check ongoing floating volatility patterns of 36Kr Holdings and Courtside Group,.
Diversification Opportunities for 36Kr Holdings and Courtside Group,
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between 36Kr and Courtside is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding 36Kr Holdings and Courtside Group, Common in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Courtside Group, Common 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 Courtside Group,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Courtside Group, Common has no effect on the direction of 36Kr Holdings i.e., 36Kr Holdings and Courtside Group, go up and down completely randomly.
Pair Corralation between 36Kr Holdings and Courtside Group,
Given the investment horizon of 90 days 36Kr Holdings is expected to under-perform the Courtside Group,. But the stock apears to be less risky and, when comparing its historical volatility, 36Kr Holdings is 1.15 times less risky than Courtside Group,. The stock trades about -0.37 of its potential returns per unit of risk. The Courtside Group, Common is currently generating about 0.29 of returns per unit of risk over similar time horizon. If you would invest 144.00 in Courtside Group, Common on August 28, 2024 and sell it today you would earn a total of 44.00 from holding Courtside Group, Common or generate 30.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
36Kr Holdings vs. Courtside Group, Common
Performance |
| Timeline |
| 36Kr Holdings |
| Courtside Group, Common |
36Kr Holdings and Courtside Group, Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 36Kr Holdings and Courtside Group,
The main advantage of trading using opposite 36Kr Holdings and Courtside Group, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 36Kr Holdings position performs unexpectedly, Courtside 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 Courtside Group, will offset losses from the drop in Courtside Group,'s long position.| 36Kr Holdings vs. Yunji Inc | 36Kr Holdings vs. Fangdd Network Group | 36Kr Holdings vs. Huize Holding | 36Kr Holdings vs. MOGU Inc |
| Courtside Group, vs. Definitive Healthcare Corp | Courtside Group, vs. Nextplat Corp | Courtside Group, vs. Rackspace Technology | Courtside Group, vs. Asure Software |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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