Correlation Between Kingfa Science and Blue Coast
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By analyzing existing cross correlation between Kingfa Science Technology and Blue Coast Hotels, you can compare the effects of market volatilities on Kingfa Science and Blue Coast 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 Kingfa Science with a short position of Blue Coast. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kingfa Science and Blue Coast.
Diversification Opportunities for Kingfa Science and Blue Coast
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Kingfa and Blue is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Kingfa Science Technology and Blue Coast Hotels in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Blue Coast Hotels and Kingfa Science 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 Kingfa Science Technology are associated (or correlated) with Blue Coast. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Blue Coast Hotels has no effect on the direction of Kingfa Science i.e., Kingfa Science and Blue Coast go up and down completely randomly.
Pair Corralation between Kingfa Science and Blue Coast
Assuming the 90 days trading horizon Kingfa Science Technology is expected to generate 0.61 times more return on investment than Blue Coast. However, Kingfa Science Technology is 1.65 times less risky than Blue Coast. It trades about -0.04 of its potential returns per unit of risk. Blue Coast Hotels is currently generating about -0.17 per unit of risk. If you would invest 437,500 in Kingfa Science Technology on September 4, 2025 and sell it today you would lose (32,290) from holding Kingfa Science Technology or give up 7.38% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kingfa Science Technology vs. Blue Coast Hotels
Performance |
| Timeline |
| Kingfa Science Technology |
| Blue Coast Hotels |
Kingfa Science and Blue Coast Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kingfa Science and Blue Coast
The main advantage of trading using opposite Kingfa Science and Blue Coast positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kingfa Science position performs unexpectedly, Blue Coast 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 Blue Coast will offset losses from the drop in Blue Coast's long position.| Kingfa Science vs. AUTHUM INVESTMENT INFRASTRUCTU | Kingfa Science vs. Nalwa Sons Investments | Kingfa Science vs. The Investment Trust | Kingfa Science vs. LG Electronics India |
| Blue Coast vs. ITCHOTELS | Blue Coast vs. Samhi Hotels Limited | Blue Coast vs. The Indian Hotels | Blue Coast vs. Sindhu Trade Links |
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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