Correlation Between Iat Automobile and ZYF Lopsking
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By analyzing existing cross correlation between Iat Automobile Technology and ZYF Lopsking Aluminum, you can compare the effects of market volatilities on Iat Automobile and ZYF Lopsking 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 ZYF Lopsking. Check out your portfolio center. Please also check ongoing floating volatility patterns of Iat Automobile and ZYF Lopsking.
Diversification Opportunities for Iat Automobile and ZYF Lopsking
0.66 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Iat and ZYF is 0.66. Overlapping area represents the amount of risk that can be diversified away by holding Iat Automobile Technology and ZYF Lopsking Aluminum in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ZYF Lopsking Aluminum 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 ZYF Lopsking. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ZYF Lopsking Aluminum has no effect on the direction of Iat Automobile i.e., Iat Automobile and ZYF Lopsking go up and down completely randomly.
Pair Corralation between Iat Automobile and ZYF Lopsking
Assuming the 90 days trading horizon Iat Automobile Technology is expected to generate 1.57 times more return on investment than ZYF Lopsking. However, Iat Automobile is 1.57 times more volatile than ZYF Lopsking Aluminum. It trades about 0.06 of its potential returns per unit of risk. ZYF Lopsking Aluminum is currently generating about 0.04 per unit of risk. If you would invest 828.00 in Iat Automobile Technology on November 3, 2024 and sell it today you would earn a total of 345.00 from holding Iat Automobile Technology or generate 41.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Iat Automobile Technology vs. ZYF Lopsking Aluminum
Performance |
| Timeline |
| Iat Automobile Technology |
| ZYF Lopsking Aluminum |
Iat Automobile and ZYF Lopsking Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Iat Automobile and ZYF Lopsking
The main advantage of trading using opposite Iat Automobile and ZYF Lopsking positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Iat Automobile position performs unexpectedly, ZYF Lopsking 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 ZYF Lopsking will offset losses from the drop in ZYF Lopsking's long position.| Iat Automobile vs. Gifore Agricultural Machinery | Iat Automobile vs. Huasi Agricultural Development | Iat Automobile vs. Senci Electric Machinery | Iat Automobile vs. Sportsoul Co Ltd |
| ZYF Lopsking vs. Anhui Transport Consulting | ZYF Lopsking vs. ROPEOK Technology Group | ZYF Lopsking vs. Maxvision Technology Corp | ZYF Lopsking vs. China Eastern Airlines |
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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