Correlation Between Kanzhun and Everus Construction
Can any of the company-specific risk be diversified away by investing in both Kanzhun and Everus Construction 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 Kanzhun and Everus Construction into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kanzhun Ltd ADR and Everus Construction Group, you can compare the effects of market volatilities on Kanzhun and Everus Construction 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 Kanzhun with a short position of Everus Construction. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kanzhun and Everus Construction.
Diversification Opportunities for Kanzhun and Everus Construction
-0.65 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Kanzhun and Everus is -0.65. Overlapping area represents the amount of risk that can be diversified away by holding Kanzhun Ltd ADR and Everus Construction Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Everus Construction and Kanzhun 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 Kanzhun Ltd ADR are associated (or correlated) with Everus Construction. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Everus Construction has no effect on the direction of Kanzhun i.e., Kanzhun and Everus Construction go up and down completely randomly.
Pair Corralation between Kanzhun and Everus Construction
Allowing for the 90-day total investment horizon Kanzhun Ltd ADR is expected to under-perform the Everus Construction. But the stock apears to be less risky and, when comparing its historical volatility, Kanzhun Ltd ADR is 1.64 times less risky than Everus Construction. The stock trades about -0.05 of its potential returns per unit of risk. The Everus Construction Group is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 7,733 in Everus Construction Group on August 27, 2025 and sell it today you would earn a total of 912.00 from holding Everus Construction Group or generate 11.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kanzhun Ltd ADR vs. Everus Construction Group
Performance |
| Timeline |
| Kanzhun Ltd ADR |
| Everus Construction |
Kanzhun and Everus Construction Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kanzhun and Everus Construction
The main advantage of trading using opposite Kanzhun and Everus Construction positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kanzhun position performs unexpectedly, Everus Construction 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 Everus Construction will offset losses from the drop in Everus Construction's long position.| Kanzhun vs. SmarTone Telecommunications Holdings | Kanzhun vs. Grounded People Apparel | Kanzhun vs. Critic Clothing | Kanzhun vs. Cleanaway Waste Management |
| Everus Construction vs. China Cgame | Everus Construction vs. Global Gaming Technologies | Everus Construction vs. Ainsworth Game Technology | Everus Construction vs. Boyd Gaming |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
Other Complementary Tools
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| Fundamental Analysis View fundamental data based on most recent published financial statements | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets |