Correlation Between Contemporary Amperex and V V
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By analyzing existing cross correlation between Contemporary Amperex Technology and V V Food, you can compare the effects of market volatilities on Contemporary Amperex 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 Contemporary Amperex with a short position of V V. Check out your portfolio center. Please also check ongoing floating volatility patterns of Contemporary Amperex and V V.
Diversification Opportunities for Contemporary Amperex and V V
0.48 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Contemporary and 600300 is 0.48. Overlapping area represents the amount of risk that can be diversified away by holding Contemporary Amperex Technolog 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 Contemporary Amperex 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 Contemporary Amperex Technology 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 Contemporary Amperex i.e., Contemporary Amperex and V V go up and down completely randomly.
Pair Corralation between Contemporary Amperex and V V
Assuming the 90 days trading horizon Contemporary Amperex Technology is expected to generate 0.91 times more return on investment than V V. However, Contemporary Amperex Technology is 1.1 times less risky than V V. It trades about 0.01 of its potential returns per unit of risk. V V Food is currently generating about -0.24 per unit of risk. If you would invest 26,075 in Contemporary Amperex Technology on October 28, 2024 and sell it today you would lose (13.00) from holding Contemporary Amperex Technology or give up 0.05% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Contemporary Amperex Technolog vs. V V Food
Performance |
| Timeline |
| Contemporary Amperex |
| V V Food |
Contemporary Amperex and V V Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Contemporary Amperex and V V
The main advantage of trading using opposite Contemporary Amperex and V V positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Contemporary Amperex 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.| Contemporary Amperex vs. Xiamen Goldenhome Co | Contemporary Amperex vs. De Rucci Healthy | Contemporary Amperex vs. Vohringer Home Technology | Contemporary Amperex vs. Mengtian Home Group |
| V V vs. Rising Nonferrous Metals | V V vs. Ligao Foods CoLtd | V V vs. Hefei Metalforming Mach | V V vs. Eastroc Beverage Group |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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