Correlation Between Cloud Live and Ingenic Semiconductor
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By analyzing existing cross correlation between Cloud Live Technology and Ingenic Semiconductor, you can compare the effects of market volatilities on Cloud Live and Ingenic Semiconductor 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 Cloud Live with a short position of Ingenic Semiconductor. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cloud Live and Ingenic Semiconductor.
Diversification Opportunities for Cloud Live and Ingenic Semiconductor
0.31 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Cloud and Ingenic is 0.31. Overlapping area represents the amount of risk that can be diversified away by holding Cloud Live Technology and Ingenic Semiconductor in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ingenic Semiconductor and Cloud Live 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 Cloud Live Technology are associated (or correlated) with Ingenic Semiconductor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ingenic Semiconductor has no effect on the direction of Cloud Live i.e., Cloud Live and Ingenic Semiconductor go up and down completely randomly.
Pair Corralation between Cloud Live and Ingenic Semiconductor
Assuming the 90 days trading horizon Cloud Live Technology is expected to under-perform the Ingenic Semiconductor. In addition to that, Cloud Live is 1.63 times more volatile than Ingenic Semiconductor. It trades about -0.3 of its total potential returns per unit of risk. Ingenic Semiconductor is currently generating about -0.15 per unit of volatility. If you would invest 7,275 in Ingenic Semiconductor on October 26, 2024 and sell it today you would lose (694.00) from holding Ingenic Semiconductor or give up 9.54% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cloud Live Technology vs. Ingenic Semiconductor
Performance |
| Timeline |
| Cloud Live Technology |
| Ingenic Semiconductor |
Cloud Live and Ingenic Semiconductor Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cloud Live and Ingenic Semiconductor
The main advantage of trading using opposite Cloud Live and Ingenic Semiconductor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cloud Live position performs unexpectedly, Ingenic Semiconductor 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 Ingenic Semiconductor will offset losses from the drop in Ingenic Semiconductor's long position.| Cloud Live vs. Kontour Medical Technology | Cloud Live vs. Fujian Wanchen Biotechnology | Cloud Live vs. Xiangyu Medical Co | Cloud Live vs. Zhongzhu Medical Holdings |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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