Correlation Between Qingdao Choho and Kuangda Technology
Specify exactly 2 symbols:
By analyzing existing cross correlation between Qingdao Choho Industrial and Kuangda Technology Group, you can compare the effects of market volatilities on Qingdao Choho 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 Qingdao Choho with a short position of Kuangda Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Qingdao Choho and Kuangda Technology.
Diversification Opportunities for Qingdao Choho and Kuangda Technology
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Qingdao and Kuangda is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Qingdao Choho Industrial and Kuangda Technology Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kuangda Technology and Qingdao Choho 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 Qingdao Choho Industrial 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 Qingdao Choho i.e., Qingdao Choho and Kuangda Technology go up and down completely randomly.
Pair Corralation between Qingdao Choho and Kuangda Technology
Assuming the 90 days trading horizon Qingdao Choho Industrial is expected to generate 2.74 times more return on investment than Kuangda Technology. However, Qingdao Choho is 2.74 times more volatile than Kuangda Technology Group. It trades about 0.16 of its potential returns per unit of risk. Kuangda Technology Group is currently generating about -0.02 per unit of risk. If you would invest 4,620 in Qingdao Choho Industrial on September 12, 2025 and sell it today you would earn a total of 1,886 from holding Qingdao Choho Industrial or generate 40.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Qingdao Choho Industrial vs. Kuangda Technology Group
Performance |
| Timeline |
| Qingdao Choho Industrial |
| Kuangda Technology |
Qingdao Choho and Kuangda Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Qingdao Choho and Kuangda Technology
The main advantage of trading using opposite Qingdao Choho and Kuangda Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Qingdao Choho 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.| Qingdao Choho vs. Kailong High Technology | Qingdao Choho vs. Cangzhou Mingzhu Plastic | Qingdao Choho vs. Pylon Technologies Co | Qingdao Choho vs. Hengerda New Materials |
| Kuangda Technology vs. Biwin Storage Technology | Kuangda Technology vs. Gansu Huangtai Wine marketing | Kuangda Technology vs. Shanghai Luoman Lighting | Kuangda Technology vs. North Long Dragon |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
Other Complementary Tools
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope |