Correlation Between Iat Automobile and 5I5j Holding
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By analyzing existing cross correlation between Iat Automobile Technology and 5I5j Holding Group, you can compare the effects of market volatilities on Iat Automobile and 5I5j Holding 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 Iat Automobile with a short position of 5I5j Holding. Check out your portfolio center. Please also check ongoing floating volatility patterns of Iat Automobile and 5I5j Holding.
Diversification Opportunities for Iat Automobile and 5I5j Holding
0.71 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Iat and 5I5j is 0.71. Overlapping area represents the amount of risk that can be diversified away by holding Iat Automobile Technology and 5I5j Holding Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 5I5j Holding Group and Iat Automobile 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 Iat Automobile Technology are associated (or correlated) with 5I5j Holding. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 5I5j Holding Group has no effect on the direction of Iat Automobile i.e., Iat Automobile and 5I5j Holding go up and down completely randomly.
Pair Corralation between Iat Automobile and 5I5j Holding
Assuming the 90 days trading horizon Iat Automobile Technology is expected to generate 0.99 times more return on investment than 5I5j Holding. However, Iat Automobile Technology is 1.01 times less risky than 5I5j Holding. It trades about -0.05 of its potential returns per unit of risk. 5I5j Holding Group is currently generating about -0.08 per unit of risk. If you would invest 1,186 in Iat Automobile Technology on September 27, 2024 and sell it today you would lose (53.00) from holding Iat Automobile Technology or give up 4.47% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Iat Automobile Technology vs. 5I5j Holding Group
Performance |
| Timeline |
| Iat Automobile Technology |
| 5I5j Holding Group |
Iat Automobile and 5I5j Holding Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Iat Automobile and 5I5j Holding
The main advantage of trading using opposite Iat Automobile and 5I5j Holding positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Iat Automobile position performs unexpectedly, 5I5j Holding 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 5I5j Holding will offset losses from the drop in 5I5j Holding's long position.| Iat Automobile vs. China Life Insurance | Iat Automobile vs. Cinda Securities Co | Iat Automobile vs. Piotech Inc A | Iat Automobile vs. Dongxing Sec Co |
| 5I5j Holding vs. Nanjing Putian Telecommunications | 5I5j Holding vs. Guangdong Marubi Biotechnology | 5I5j Holding vs. Iat Automobile Technology | 5I5j Holding vs. Songz Automobile Air |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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