Correlation Between QKL Stores and Ross Stores
Can any of the company-specific risk be diversified away by investing in both QKL Stores and Ross Stores 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 QKL Stores and Ross Stores into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between QKL Stores and Ross Stores, you can compare the effects of market volatilities on QKL Stores and Ross Stores 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 QKL Stores with a short position of Ross Stores. Check out your portfolio center. Please also check ongoing floating volatility patterns of QKL Stores and Ross Stores.
Diversification Opportunities for QKL Stores and Ross Stores
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between QKL and Ross is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding QKL Stores and Ross Stores in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ross Stores and QKL Stores 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 QKL Stores are associated (or correlated) with Ross Stores. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ross Stores has no effect on the direction of QKL Stores i.e., QKL Stores and Ross Stores go up and down completely randomly.
Pair Corralation between QKL Stores and Ross Stores
If you would invest 15,085 in Ross Stores on August 31, 2025 and sell it today you would earn a total of 2,551 from holding Ross Stores or generate 16.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 96.92% |
| Values | Daily Returns |
QKL Stores vs. Ross Stores
Performance |
| Timeline |
| QKL Stores |
| Ross Stores |
QKL Stores and Ross Stores Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with QKL Stores and Ross Stores
The main advantage of trading using opposite QKL Stores and Ross Stores positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if QKL Stores position performs unexpectedly, Ross Stores 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 Ross Stores will offset losses from the drop in Ross Stores' long position.| QKL Stores vs. BJs Wholesale Club | QKL Stores vs. Dollar General | QKL Stores vs. Grocery Outlet Holding | QKL Stores vs. Kroger Company |
| Ross Stores vs. Elmos Semiconductor SE | Ross Stores vs. Westlake Chemical Partners | Ross Stores vs. ON Semiconductor | Ross Stores vs. Eagle Materials |
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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