Correlation Between Meiwu Technology and KBS Real
Can any of the company-specific risk be diversified away by investing in both Meiwu Technology and KBS Real 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 Meiwu Technology and KBS Real into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Meiwu Technology Co and KBS Real Estate, you can compare the effects of market volatilities on Meiwu Technology and KBS Real 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 Meiwu Technology with a short position of KBS Real. Check out your portfolio center. Please also check ongoing floating volatility patterns of Meiwu Technology and KBS Real.
Diversification Opportunities for Meiwu Technology and KBS Real
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Meiwu and KBS is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Meiwu Technology Co and KBS Real Estate in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KBS Real Estate and Meiwu Technology 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 Meiwu Technology Co are associated (or correlated) with KBS Real. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KBS Real Estate has no effect on the direction of Meiwu Technology i.e., Meiwu Technology and KBS Real go up and down completely randomly.
Pair Corralation between Meiwu Technology and KBS Real
If you would invest 85.00 in Meiwu Technology Co on September 12, 2024 and sell it today you would earn a total of 49.50 from holding Meiwu Technology Co or generate 58.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 1.56% |
| Values | Daily Returns |
Meiwu Technology Co vs. KBS Real Estate
Performance |
| Timeline |
| Meiwu Technology |
| KBS Real Estate |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Meiwu Technology and KBS Real Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Meiwu Technology and KBS Real
The main advantage of trading using opposite Meiwu Technology and KBS Real positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Meiwu Technology position performs unexpectedly, KBS Real 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 KBS Real will offset losses from the drop in KBS Real's long position.| Meiwu Technology vs. MOGU Inc | Meiwu Technology vs. iPower Inc | Meiwu Technology vs. Jeffs Brands | Meiwu Technology vs. Kidpik Corp |
| KBS Real vs. Olympic Steel | KBS Real vs. Meiwu Technology Co | KBS Real vs. Pentair PLC | KBS Real vs. Westinghouse Air Brake |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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