Correlation Between Shenzhen Kaifa and IONQ
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By analyzing existing cross correlation between Shenzhen Kaifa Technology and IONQ Inc, you can compare the effects of market volatilities on Shenzhen Kaifa and IONQ 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 Shenzhen Kaifa with a short position of IONQ. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shenzhen Kaifa and IONQ.
Diversification Opportunities for Shenzhen Kaifa and IONQ
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Shenzhen and IONQ is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Shenzhen Kaifa Technology and IONQ Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on IONQ Inc and Shenzhen Kaifa 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 Shenzhen Kaifa Technology are associated (or correlated) with IONQ. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IONQ Inc has no effect on the direction of Shenzhen Kaifa i.e., Shenzhen Kaifa and IONQ go up and down completely randomly.
Pair Corralation between Shenzhen Kaifa and IONQ
Assuming the 90 days trading horizon Shenzhen Kaifa Technology is expected to generate 0.68 times more return on investment than IONQ. However, Shenzhen Kaifa Technology is 1.48 times less risky than IONQ. It trades about 0.15 of its potential returns per unit of risk. IONQ Inc is currently generating about 0.09 per unit of risk. If you would invest 1,928 in Shenzhen Kaifa Technology on August 15, 2025 and sell it today you would earn a total of 672.00 from holding Shenzhen Kaifa Technology or generate 34.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 93.65% |
| Values | Daily Returns |
Shenzhen Kaifa Technology vs. IONQ Inc
Performance |
| Timeline |
| Shenzhen Kaifa Technology |
| IONQ Inc |
Shenzhen Kaifa and IONQ Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shenzhen Kaifa and IONQ
The main advantage of trading using opposite Shenzhen Kaifa and IONQ positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shenzhen Kaifa position performs unexpectedly, IONQ 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 IONQ will offset losses from the drop in IONQ's long position.| Shenzhen Kaifa vs. Techshine Electronics Co | Shenzhen Kaifa vs. China Asset Management | Shenzhen Kaifa vs. Semiconductor Manufacturing Electronics | Shenzhen Kaifa vs. CICC Fund Management |
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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 Transaction History module to view history of all your transactions and understand their impact on performance.
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