Correlation Between Kingfa Science and Max Financial
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By analyzing existing cross correlation between Kingfa Science Technology and Max Financial Services, you can compare the effects of market volatilities on Kingfa Science and Max Financial 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 Kingfa Science with a short position of Max Financial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kingfa Science and Max Financial.
Diversification Opportunities for Kingfa Science and Max Financial
-0.47 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Kingfa and Max is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding Kingfa Science Technology and Max Financial Services in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Max Financial Services and Kingfa Science 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 Kingfa Science Technology are associated (or correlated) with Max Financial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Max Financial Services has no effect on the direction of Kingfa Science i.e., Kingfa Science and Max Financial go up and down completely randomly.
Pair Corralation between Kingfa Science and Max Financial
Assuming the 90 days trading horizon Kingfa Science Technology is expected to generate 1.64 times more return on investment than Max Financial. However, Kingfa Science is 1.64 times more volatile than Max Financial Services. It trades about 0.07 of its potential returns per unit of risk. Max Financial Services is currently generating about 0.06 per unit of risk. If you would invest 189,809 in Kingfa Science Technology on September 12, 2024 and sell it today you would earn a total of 134,146 from holding Kingfa Science Technology or generate 70.67% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Very Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Kingfa Science Technology vs. Max Financial Services
Performance |
Timeline |
Kingfa Science Technology |
Max Financial Services |
Kingfa Science and Max Financial Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Kingfa Science and Max Financial
The main advantage of trading using opposite Kingfa Science and Max Financial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kingfa Science position performs unexpectedly, Max Financial 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 Max Financial will offset losses from the drop in Max Financial's long position.Kingfa Science vs. Steel Authority of | Kingfa Science vs. Embassy Office Parks | Kingfa Science vs. Indian Metals Ferro | Kingfa Science vs. JTL Industries |
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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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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