Correlation Between Kewaunee Scientific and Chijet

Can any of the company-specific risk be diversified away by investing in both Kewaunee Scientific and Chijet 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 Kewaunee Scientific and Chijet into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Kewaunee Scientific and Chijet Motor Company, you can compare the effects of market volatilities on Kewaunee Scientific and Chijet 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 Kewaunee Scientific with a short position of Chijet. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kewaunee Scientific and Chijet.

Diversification Opportunities for Kewaunee Scientific and Chijet

0.66

Correlation Coefficient

Kewaunee Scientific  Chijet

Poor diversification

The 3 months correlation between Kewaunee and Chijet is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding Kewaunee Scientific and Chijet Motor Company in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Chijet Motor and Kewaunee Scientific 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 Kewaunee Scientific are associated (or correlated) with Chijet. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Chijet Motor has no effect on the direction of Kewaunee Scientific i.e., Kewaunee Scientific and Chijet go up and down completely randomly.

Pair Corralation between Kewaunee Scientific and Chijet

Given the investment horizon of 90 days Kewaunee Scientific is expected to generate 0.18 times more return on investment than Chijet. However, Kewaunee Scientific is 5.44 times less risky than Chijet. It trades about -0.1 of its potential returns per unit of risk. Chijet Motor Company is currently generating about -0.5 per unit of risk. If you would invest  4,383  in Kewaunee Scientific on October 8, 2025 and sell it today you would lose (539.00) from holding Kewaunee Scientific or give up 12.3% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Significant
Accuracy	98.36%
Values	Daily Returns

Kewaunee Scientific  vs.  Chijet Motor Company

Kewaunee Scientific

Risk-Adjusted Performance

Weakest

Over the last 90 days Kewaunee Scientific has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of latest unsteady performance, the Stock's basic indicators remain stable and the newest uproar on Wall Street may also be a sign of mid-term gains for the firm private investors.

Chijet Motor

Risk-Adjusted Performance

Weakest

Over the last 90 days Chijet Motor Company has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of inconsistent performance in the last few months, the Stock's technical and fundamental indicators remain comparatively stable which may send shares a bit higher in February 2026. The newest uproar may also be a sign of mid-term up-swing for the firm private investors.

Pair Trading with Kewaunee Scientific and Chijet

The main advantage of trading using opposite Kewaunee Scientific and Chijet positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kewaunee Scientific position performs unexpectedly, Chijet 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 Chijet will offset losses from the drop in Chijet's long position.

The idea behind Kewaunee Scientific and Chijet Motor Company pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.