Correlation Between Iat Automobile and Suzhou Industrial
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By analyzing existing cross correlation between Iat Automobile Technology and Suzhou Industrial Park, you can compare the effects of market volatilities on Iat Automobile and Suzhou Industrial 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 Suzhou Industrial. Check out your portfolio center. Please also check ongoing floating volatility patterns of Iat Automobile and Suzhou Industrial.
Diversification Opportunities for Iat Automobile and Suzhou Industrial
0.4 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Iat and Suzhou is 0.4. Overlapping area represents the amount of risk that can be diversified away by holding Iat Automobile Technology and Suzhou Industrial Park in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Suzhou Industrial Park 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 Suzhou Industrial. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Suzhou Industrial Park has no effect on the direction of Iat Automobile i.e., Iat Automobile and Suzhou Industrial go up and down completely randomly.
Pair Corralation between Iat Automobile and Suzhou Industrial
Assuming the 90 days trading horizon Iat Automobile Technology is expected to under-perform the Suzhou Industrial. But the stock apears to be less risky and, when comparing its historical volatility, Iat Automobile Technology is 1.91 times less risky than Suzhou Industrial. The stock trades about -0.19 of its potential returns per unit of risk. The Suzhou Industrial Park is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 992.00 in Suzhou Industrial Park on October 10, 2024 and sell it today you would earn a total of 59.00 from holding Suzhou Industrial Park or generate 5.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Iat Automobile Technology vs. Suzhou Industrial Park
Performance |
| Timeline |
| Iat Automobile Technology |
| Suzhou Industrial Park |
Iat Automobile and Suzhou Industrial Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Iat Automobile and Suzhou Industrial
The main advantage of trading using opposite Iat Automobile and Suzhou Industrial positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Iat Automobile position performs unexpectedly, Suzhou Industrial 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 Suzhou Industrial will offset losses from the drop in Suzhou Industrial's long position.| Iat Automobile vs. Shandong Iron and | Iat Automobile vs. Qiaoyin Environmental Tech | Iat Automobile vs. StarPower Semiconductor | Iat Automobile vs. Tongxing Environmental Protection |
| Suzhou Industrial vs. Malion New Materials | Suzhou Industrial vs. King Strong New Material | Suzhou Industrial vs. Western Metal Materials | Suzhou Industrial vs. Guangzhou Jinyi Media |
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 Diagnostics module to use generated alerts and portfolio events aggregator to diagnose current holdings.
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