Correlation Between Kingdee International and Corazon Mining
Can any of the company-specific risk be diversified away by investing in both Kingdee International and Corazon Mining 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 Kingdee International and Corazon Mining into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kingdee International Software and Corazon Mining, you can compare the effects of market volatilities on Kingdee International and Corazon Mining 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 Kingdee International with a short position of Corazon Mining. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kingdee International and Corazon Mining.
Diversification Opportunities for Kingdee International and Corazon Mining
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Kingdee and Corazon is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Kingdee International Software and Corazon Mining in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Corazon Mining and Kingdee International 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 Kingdee International Software are associated (or correlated) with Corazon Mining. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Corazon Mining has no effect on the direction of Kingdee International i.e., Kingdee International and Corazon Mining go up and down completely randomly.
Pair Corralation between Kingdee International and Corazon Mining
If you would invest 175.00 in Kingdee International Software on June 13, 2025 and sell it today you would earn a total of 31.00 from holding Kingdee International Software or generate 17.71% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kingdee International Software vs. Corazon Mining
Performance |
| Timeline |
| Kingdee International |
| Corazon Mining |
Kingdee International and Corazon Mining Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kingdee International and Corazon Mining
The main advantage of trading using opposite Kingdee International and Corazon Mining positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kingdee International position performs unexpectedly, Corazon Mining 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 Corazon Mining will offset losses from the drop in Corazon Mining's long position.| Kingdee International vs. CAVU Resources | Kingdee International vs. Epazz Inc | Kingdee International vs. Pervasip Corp | Kingdee International vs. Grillit |
| Corazon Mining vs. Hooker Furniture | Corazon Mining vs. Torm PLC Class | Corazon Mining vs. Hafnia Limited | Corazon Mining vs. Lindblad Expeditions Holdings |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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