Correlation Between Kweichow Moutai and Mango Excellent
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By analyzing existing cross correlation between Kweichow Moutai Co and Mango Excellent Media, you can compare the effects of market volatilities on Kweichow Moutai and Mango Excellent 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 Kweichow Moutai with a short position of Mango Excellent. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kweichow Moutai and Mango Excellent.
Diversification Opportunities for Kweichow Moutai and Mango Excellent
0.64 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Kweichow and Mango is 0.64. Overlapping area represents the amount of risk that can be diversified away by holding Kweichow Moutai Co and Mango Excellent Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Mango Excellent Media and Kweichow Moutai 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 Kweichow Moutai Co are associated (or correlated) with Mango Excellent. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Mango Excellent Media has no effect on the direction of Kweichow Moutai i.e., Kweichow Moutai and Mango Excellent go up and down completely randomly.
Pair Corralation between Kweichow Moutai and Mango Excellent
Assuming the 90 days trading horizon Kweichow Moutai is expected to generate 3.82 times less return on investment than Mango Excellent. But when comparing it to its historical volatility, Kweichow Moutai Co is 1.76 times less risky than Mango Excellent. It trades about 0.07 of its potential returns per unit of risk. Mango Excellent Media is currently generating about 0.16 of returns per unit of risk over similar time horizon. If you would invest 2,011 in Mango Excellent Media on September 25, 2024 and sell it today you would earn a total of 827.00 from holding Mango Excellent Media or generate 41.12% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Significant |
Accuracy | 100.0% |
Values | Daily Returns |
Kweichow Moutai Co vs. Mango Excellent Media
Performance |
Timeline |
Kweichow Moutai |
Mango Excellent Media |
Kweichow Moutai and Mango Excellent Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Kweichow Moutai and Mango Excellent
The main advantage of trading using opposite Kweichow Moutai and Mango Excellent positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kweichow Moutai position performs unexpectedly, Mango Excellent 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 Mango Excellent will offset losses from the drop in Mango Excellent's long position.Kweichow Moutai vs. Beijing HuaYuanYiTong Thermal | Kweichow Moutai vs. Maxvision Technology Corp | Kweichow Moutai vs. Dongguan Aohai Technology | Kweichow Moutai vs. Chengtun Mining Group |
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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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
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