Correlation Between Iflytek and V V
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By analyzing existing cross correlation between Iflytek Co and V V Food, you can compare the effects of market volatilities on Iflytek and V V 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 Iflytek with a short position of V V. Check out your portfolio center. Please also check ongoing floating volatility patterns of Iflytek and V V.
Diversification Opportunities for Iflytek and V V
Almost no diversification
The 3 months correlation between Iflytek and 600300 is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Iflytek Co and V V Food in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on V V Food and Iflytek 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 Iflytek Co are associated (or correlated) with V V. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of V V Food has no effect on the direction of Iflytek i.e., Iflytek and V V go up and down completely randomly.
Pair Corralation between Iflytek and V V
Assuming the 90 days trading horizon Iflytek is expected to generate 1.04 times less return on investment than V V. In addition to that, Iflytek is 1.89 times more volatile than V V Food. It trades about 0.09 of its total potential returns per unit of risk. V V Food is currently generating about 0.17 per unit of volatility. If you would invest 310.00 in V V Food on September 12, 2024 and sell it today you would earn a total of 24.00 from holding V V Food or generate 7.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Iflytek Co vs. V V Food
Performance |
| Timeline |
| Iflytek |
| V V Food |
Iflytek and V V Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Iflytek and V V
The main advantage of trading using opposite Iflytek and V V positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Iflytek position performs unexpectedly, V V 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 V V will offset losses from the drop in V V's long position.| Iflytek vs. Chongqing Changan Automobile | Iflytek vs. Jinhui Mining Co | Iflytek vs. Zhejiang Qianjiang Motorcycle | Iflytek vs. Pengxin International Mining |
| V V vs. Guangzhou Haige Communications | V V vs. Eastern Communications Co | V V vs. Orinko Advanced Plastics | V V vs. Dr Peng Telecom |
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 Portfolio Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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