Correlation Between Bomesc Offshore and Kingsignal Technology
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By analyzing existing cross correlation between Bomesc Offshore Engineering and Kingsignal Technology Co, you can compare the effects of market volatilities on Bomesc Offshore and Kingsignal 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 Bomesc Offshore with a short position of Kingsignal Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bomesc Offshore and Kingsignal Technology.
Diversification Opportunities for Bomesc Offshore and Kingsignal Technology
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Bomesc and Kingsignal is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding Bomesc Offshore Engineering and Kingsignal Technology Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kingsignal Technology and Bomesc Offshore 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 Bomesc Offshore Engineering are associated (or correlated) with Kingsignal Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kingsignal Technology has no effect on the direction of Bomesc Offshore i.e., Bomesc Offshore and Kingsignal Technology go up and down completely randomly.
Pair Corralation between Bomesc Offshore and Kingsignal Technology
Assuming the 90 days trading horizon Bomesc Offshore Engineering is expected to generate 0.67 times more return on investment than Kingsignal Technology. However, Bomesc Offshore Engineering is 1.48 times less risky than Kingsignal Technology. It trades about 0.07 of its potential returns per unit of risk. Kingsignal Technology Co is currently generating about -0.01 per unit of risk. If you would invest 1,390 in Bomesc Offshore Engineering on September 11, 2025 and sell it today you would earn a total of 103.00 from holding Bomesc Offshore Engineering or generate 7.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bomesc Offshore Engineering vs. Kingsignal Technology Co
Performance |
| Timeline |
| Bomesc Offshore Engi |
| Kingsignal Technology |
Bomesc Offshore and Kingsignal Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bomesc Offshore and Kingsignal Technology
The main advantage of trading using opposite Bomesc Offshore and Kingsignal Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bomesc Offshore position performs unexpectedly, Kingsignal 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 Kingsignal Technology will offset losses from the drop in Kingsignal Technology's long position.| Bomesc Offshore vs. Zhejiang Kingland Pipeline | Bomesc Offshore vs. Gansu Jiu Steel | Bomesc Offshore vs. Aba Chemicals Corp | Bomesc Offshore vs. Hi Trend TechCo |
| Kingsignal Technology vs. Industrial and Commercial | Kingsignal Technology vs. Agricultural Bank of | Kingsignal Technology vs. China Construction Bank | Kingsignal Technology vs. Bank of China |
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 Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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