Correlation Between Visa and Keeson Technology
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By analyzing existing cross correlation between Visa Class A and Keeson Technology Corp, you can compare the effects of market volatilities on Visa and Keeson Technology 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 Visa with a short position of Keeson Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Visa and Keeson Technology.
Diversification Opportunities for Visa and Keeson Technology
0.61 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Visa and Keeson is 0.61. Overlapping area represents the amount of risk that can be diversified away by holding Visa Class A and Keeson Technology Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Keeson Technology Corp and Visa 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 Visa Class A are associated (or correlated) with Keeson Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Keeson Technology Corp has no effect on the direction of Visa i.e., Visa and Keeson Technology go up and down completely randomly.
Pair Corralation between Visa and Keeson Technology
Taking into account the 90-day investment horizon Visa Class A is expected to generate 0.42 times more return on investment than Keeson Technology. However, Visa Class A is 2.4 times less risky than Keeson Technology. It trades about 0.08 of its potential returns per unit of risk. Keeson Technology Corp is currently generating about 0.0 per unit of risk. If you would invest 22,017 in Visa Class A on September 3, 2024 and sell it today you would earn a total of 9,491 from holding Visa Class A or generate 43.11% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 96.0% |
| Values | Daily Returns |
Visa Class A vs. Keeson Technology Corp
Performance |
| Timeline |
| Visa Class A |
| Keeson Technology Corp |
Visa and Keeson Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Visa and Keeson Technology
The main advantage of trading using opposite Visa and Keeson Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Visa position performs unexpectedly, Keeson Technology 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 Keeson Technology will offset losses from the drop in Keeson Technology's long position.| Visa vs. American Express | Visa vs. Capital One Financial | Visa vs. Upstart Holdings | Visa vs. Ally Financial |
| Keeson Technology vs. Jiangxi Naipu Mining | Keeson Technology vs. Western Mining Co | Keeson Technology vs. Guangdong Jingyi Metal | Keeson Technology vs. Chengtun Mining Group |
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.
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