Correlation Between Telling Telecommunicatio and Kuangda Technology
Specify exactly 2 symbols:
By analyzing existing cross correlation between Telling Telecommunication Holding and Kuangda Technology Group, you can compare the effects of market volatilities on Telling Telecommunicatio and Kuangda Technology 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 Telling Telecommunicatio with a short position of Kuangda Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Telling Telecommunicatio and Kuangda Technology.
Diversification Opportunities for Telling Telecommunicatio and Kuangda Technology
-0.15 | Correlation Coefficient |
Good diversification
The 3 months correlation between Telling and Kuangda is -0.15. Overlapping area represents the amount of risk that can be diversified away by holding Telling Telecommunication Hold and Kuangda Technology Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kuangda Technology and Telling Telecommunicatio 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 Telling Telecommunication Holding are associated (or correlated) with Kuangda Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kuangda Technology has no effect on the direction of Telling Telecommunicatio i.e., Telling Telecommunicatio and Kuangda Technology go up and down completely randomly.
Pair Corralation between Telling Telecommunicatio and Kuangda Technology
Assuming the 90 days trading horizon Telling Telecommunication Holding is expected to generate 0.89 times more return on investment than Kuangda Technology. However, Telling Telecommunication Holding is 1.12 times less risky than Kuangda Technology. It trades about 0.12 of its potential returns per unit of risk. Kuangda Technology Group is currently generating about 0.03 per unit of risk. If you would invest 990.00 in Telling Telecommunication Holding on September 5, 2025 and sell it today you would earn a total of 131.00 from holding Telling Telecommunication Holding or generate 13.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.28% |
| Values | Daily Returns |
Telling Telecommunication Hold vs. Kuangda Technology Group
Performance |
| Timeline |
| Telling Telecommunicatio |
| Kuangda Technology |
Telling Telecommunicatio and Kuangda Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Telling Telecommunicatio and Kuangda Technology
The main advantage of trading using opposite Telling Telecommunicatio and Kuangda Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Telling Telecommunicatio position performs unexpectedly, Kuangda Technology 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 Kuangda Technology will offset losses from the drop in Kuangda Technology's long position.The idea behind Telling Telecommunication Holding and Kuangda Technology Group pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
| Kuangda Technology vs. HOB Biotech Group | Kuangda Technology vs. Zhongtong Guomai Communication | Kuangda Technology vs. HUAQIN TECHNOLOGY LTD | Kuangda Technology vs. Changchun UP Optotech |
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 Channel module to use Commodity Channel Index to analyze current equity momentum.
Other Complementary Tools
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing |