Correlation Between Iat Automobile and Ciwen Media
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By analyzing existing cross correlation between Iat Automobile Technology and Ciwen Media Co, you can compare the effects of market volatilities on Iat Automobile and Ciwen Media 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 Ciwen Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of Iat Automobile and Ciwen Media.
Diversification Opportunities for Iat Automobile and Ciwen Media
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Iat and Ciwen is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Iat Automobile Technology and Ciwen Media Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ciwen Media 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 Ciwen Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ciwen Media has no effect on the direction of Iat Automobile i.e., Iat Automobile and Ciwen Media go up and down completely randomly.
Pair Corralation between Iat Automobile and Ciwen Media
Assuming the 90 days trading horizon Iat Automobile Technology is expected to generate 1.08 times more return on investment than Ciwen Media. However, Iat Automobile is 1.08 times more volatile than Ciwen Media Co. It trades about 0.14 of its potential returns per unit of risk. Ciwen Media Co is currently generating about 0.1 per unit of risk. If you would invest 1,207 in Iat Automobile Technology on September 12, 2024 and sell it today you would earn a total of 128.00 from holding Iat Automobile Technology or generate 10.6% 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. Ciwen Media Co
Performance |
| Timeline |
| Iat Automobile Technology |
| Ciwen Media |
Iat Automobile and Ciwen Media Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Iat Automobile and Ciwen Media
The main advantage of trading using opposite Iat Automobile and Ciwen Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Iat Automobile position performs unexpectedly, Ciwen Media 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 Ciwen Media will offset losses from the drop in Ciwen Media's long position.| Iat Automobile vs. Lutian Machinery Co | Iat Automobile vs. PetroChina Co Ltd | Iat Automobile vs. Bank of China | Iat Automobile vs. Gansu Jiu Steel |
| Ciwen Media vs. Kunshan Guoli Electronic | Ciwen Media vs. Epoxy Base Electronic | Ciwen Media vs. Ningbo Jianan Electronics | Ciwen Media vs. Zhejiang JIULI Hi tech |
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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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