Correlation Between Iat Automobile and Easyhome New
Specify exactly 2 symbols:
By analyzing existing cross correlation between Iat Automobile Technology and Easyhome New Retail, you can compare the effects of market volatilities on Iat Automobile and Easyhome New 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 Easyhome New. Check out your portfolio center. Please also check ongoing floating volatility patterns of Iat Automobile and Easyhome New.
Diversification Opportunities for Iat Automobile and Easyhome New
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Iat and Easyhome is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Iat Automobile Technology and Easyhome New Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Easyhome New Retail 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 Easyhome New. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Easyhome New Retail has no effect on the direction of Iat Automobile i.e., Iat Automobile and Easyhome New go up and down completely randomly.
Pair Corralation between Iat Automobile and Easyhome New
Assuming the 90 days trading horizon Iat Automobile Technology is expected to generate 1.61 times more return on investment than Easyhome New. However, Iat Automobile is 1.61 times more volatile than Easyhome New Retail. It trades about 0.06 of its potential returns per unit of risk. Easyhome New Retail is currently generating about 0.05 per unit of risk. If you would invest 1,146 in Iat Automobile Technology on August 29, 2024 and sell it today you would earn a total of 40.00 from holding Iat Automobile Technology or generate 3.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Iat Automobile Technology vs. Easyhome New Retail
Performance |
| Timeline |
| Iat Automobile Technology |
| Easyhome New Retail |
Iat Automobile and Easyhome New Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Iat Automobile and Easyhome New
The main advantage of trading using opposite Iat Automobile and Easyhome New positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Iat Automobile position performs unexpectedly, Easyhome New 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 Easyhome New will offset losses from the drop in Easyhome New's long position.| Iat Automobile vs. Xian International Medical | Iat Automobile vs. Sino Medical Sciences | Iat Automobile vs. Cofoe Medical Technology | Iat Automobile vs. Allmed Medical Products |
| Easyhome New vs. Caihong Display Devices | Easyhome New vs. Shaanxi Construction Machinery | Easyhome New vs. Jiangsu Jinling Sports | Easyhome New vs. Huitong Construction 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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
Other Complementary Tools
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance |