Correlation Between Kandi Technologies and Full House
Can any of the company-specific risk be diversified away by investing in both Kandi Technologies and Full House 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 Kandi Technologies and Full House into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Kandi Technologies Group and Full House Resorts, you can compare the effects of market volatilities on Kandi Technologies and Full House 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 Kandi Technologies with a short position of Full House. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kandi Technologies and Full House.
Diversification Opportunities for Kandi Technologies and Full House
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Kandi and Full is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding Kandi Technologies Group and Full House Resorts in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Full House Resorts and Kandi Technologies 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 Kandi Technologies Group are associated (or correlated) with Full House. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Full House Resorts has no effect on the direction of Kandi Technologies i.e., Kandi Technologies and Full House go up and down completely randomly.
Pair Corralation between Kandi Technologies and Full House
Given the investment horizon of 90 days Kandi Technologies Group is expected to under-perform the Full House. But the stock apears to be less risky and, when comparing its historical volatility, Kandi Technologies Group is 1.02 times less risky than Full House. The stock trades about -0.1 of its potential returns per unit of risk. The Full House Resorts is currently generating about -0.08 of returns per unit of risk over similar time horizon. If you would invest 349.00 in Full House Resorts on September 13, 2025 and sell it today you would lose (58.00) from holding Full House Resorts or give up 16.62% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kandi Technologies Group vs. Full House Resorts
Performance |
| Timeline |
| Kandi Technologies |
| Full House Resorts |
Kandi Technologies and Full House Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kandi Technologies and Full House
The main advantage of trading using opposite Kandi Technologies and Full House positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kandi Technologies position performs unexpectedly, Full House 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 Full House will offset losses from the drop in Full House's long position.| Kandi Technologies vs. Aeye Inc | Kandi Technologies vs. Luminar Technologies | Kandi Technologies vs. Duluth Holdings | Kandi Technologies vs. TH International Limited |
| Full House vs. GrowGeneration Corp | Full House vs. TH International Limited | Full House vs. Sportsmans | Full House vs. Canterbury Park Holding |
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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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