Correlation Between Endeavour Mining and Kingdee International
Can any of the company-specific risk be diversified away by investing in both Endeavour Mining and Kingdee International at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Endeavour Mining and Kingdee International into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Endeavour Mining PLC and Kingdee International Software, you can compare the effects of market volatilities on Endeavour Mining and Kingdee International 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 Endeavour Mining with a short position of Kingdee International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Endeavour Mining and Kingdee International.
Diversification Opportunities for Endeavour Mining and Kingdee International
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Endeavour and Kingdee is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding Endeavour Mining PLC and Kingdee International Software in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kingdee International and Endeavour Mining 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 Endeavour Mining PLC are associated (or correlated) with Kingdee International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kingdee International has no effect on the direction of Endeavour Mining i.e., Endeavour Mining and Kingdee International go up and down completely randomly.
Pair Corralation between Endeavour Mining and Kingdee International
Assuming the 90 days trading horizon Endeavour Mining PLC is expected to generate 1.42 times more return on investment than Kingdee International. However, Endeavour Mining is 1.42 times more volatile than Kingdee International Software. It trades about 0.09 of its potential returns per unit of risk. Kingdee International Software is currently generating about -0.07 per unit of risk. If you would invest 3,291 in Endeavour Mining PLC on September 13, 2025 and sell it today you would earn a total of 673.00 from holding Endeavour Mining PLC or generate 20.45% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Endeavour Mining PLC vs. Kingdee International Software
Performance |
| Timeline |
| Endeavour Mining PLC |
| Kingdee International |
Endeavour Mining and Kingdee International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Endeavour Mining and Kingdee International
The main advantage of trading using opposite Endeavour Mining and Kingdee International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Endeavour Mining position performs unexpectedly, Kingdee International 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 Kingdee International will offset losses from the drop in Kingdee International's long position.| Endeavour Mining vs. Thai Beverage Public | Endeavour Mining vs. United Natural Foods | Endeavour Mining vs. Suntory Beverage Food | Endeavour Mining vs. CARSALESCOM |
| Kingdee International vs. NMI Holdings | Kingdee International vs. Origin Agritech | Kingdee International vs. SIVERS SEMICONDUCTORS AB | Kingdee International vs. Intel |
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 Correlation Analysis module to reduce portfolio risk simply by holding instruments which are not perfectly correlated.
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