Correlation Between Kunwu Jiuding and V V
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By analyzing existing cross correlation between Kunwu Jiuding Investment and V V Food, you can compare the effects of market volatilities on Kunwu Jiuding and V V 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 Kunwu Jiuding with a short position of V V. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kunwu Jiuding and V V.
Diversification Opportunities for Kunwu Jiuding and V V
0.87 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Kunwu and 600300 is 0.87. Overlapping area represents the amount of risk that can be diversified away by holding Kunwu Jiuding Investment and V V Food in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on V V Food and Kunwu Jiuding 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 Kunwu Jiuding Investment are associated (or correlated) with V V. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of V V Food has no effect on the direction of Kunwu Jiuding i.e., Kunwu Jiuding and V V go up and down completely randomly.
Pair Corralation between Kunwu Jiuding and V V
Assuming the 90 days trading horizon Kunwu Jiuding Investment is expected to generate 1.71 times more return on investment than V V. However, Kunwu Jiuding is 1.71 times more volatile than V V Food. It trades about 0.17 of its potential returns per unit of risk. V V Food is currently generating about 0.23 per unit of risk. If you would invest 1,164 in Kunwu Jiuding Investment on September 4, 2024 and sell it today you would earn a total of 507.00 from holding Kunwu Jiuding Investment or generate 43.56% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Strong |
Accuracy | 100.0% |
Values | Daily Returns |
Kunwu Jiuding Investment vs. V V Food
Performance |
Timeline |
Kunwu Jiuding Investment |
V V Food |
Kunwu Jiuding and V V Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Kunwu Jiuding and V V
The main advantage of trading using opposite Kunwu Jiuding and V V positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kunwu Jiuding position performs unexpectedly, V V 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 V V will offset losses from the drop in V V's long position.Kunwu Jiuding vs. Industrial and Commercial | Kunwu Jiuding vs. Agricultural Bank of | Kunwu Jiuding vs. China Construction Bank | Kunwu Jiuding vs. Bank of China |
V V vs. Vanfund Urban Investment | V V vs. Jiujiang Shanshui Technology | V V vs. Hunan Investment Group | V V vs. Kunwu Jiuding Investment |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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