Correlation Between Iat Automobile and Henan Shuanghui
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By analyzing existing cross correlation between Iat Automobile Technology and Henan Shuanghui Investment, you can compare the effects of market volatilities on Iat Automobile and Henan Shuanghui 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 Henan Shuanghui. Check out your portfolio center. Please also check ongoing floating volatility patterns of Iat Automobile and Henan Shuanghui.
Diversification Opportunities for Iat Automobile and Henan Shuanghui
0.1 | Correlation Coefficient |
Average diversification
The 3 months correlation between Iat and Henan is 0.1. Overlapping area represents the amount of risk that can be diversified away by holding Iat Automobile Technology and Henan Shuanghui Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Henan Shuanghui Inve 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 Henan Shuanghui. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Henan Shuanghui Inve has no effect on the direction of Iat Automobile i.e., Iat Automobile and Henan Shuanghui go up and down completely randomly.
Pair Corralation between Iat Automobile and Henan Shuanghui
Assuming the 90 days trading horizon Iat Automobile Technology is expected to generate 3.78 times more return on investment than Henan Shuanghui. However, Iat Automobile is 3.78 times more volatile than Henan Shuanghui Investment. It trades about -0.02 of its potential returns per unit of risk. Henan Shuanghui Investment is currently generating about -0.2 per unit of risk. If you would invest 1,186 in Iat Automobile Technology on October 18, 2024 and sell it today you would lose (29.00) from holding Iat Automobile Technology or give up 2.45% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Iat Automobile Technology vs. Henan Shuanghui Investment
Performance |
| Timeline |
| Iat Automobile Technology |
| Henan Shuanghui Inve |
Iat Automobile and Henan Shuanghui Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Iat Automobile and Henan Shuanghui
The main advantage of trading using opposite Iat Automobile and Henan Shuanghui positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Iat Automobile position performs unexpectedly, Henan Shuanghui 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 Henan Shuanghui will offset losses from the drop in Henan Shuanghui's long position.| Iat Automobile vs. Nuode Investment Co | Iat Automobile vs. Gifore Agricultural Machinery | Iat Automobile vs. Chengdu Xingrong Investment | Iat Automobile vs. Nanxing Furniture Machinery |
| Henan Shuanghui vs. Hunan TV Broadcast | Henan Shuanghui vs. Tongyu Communication | Henan Shuanghui vs. China Mobile Limited | Henan Shuanghui vs. Iat Automobile Technology |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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