Correlation Between Wuhan Xianglong and Iat Automobile
Specify exactly 2 symbols:
By analyzing existing cross correlation between Wuhan Xianglong Power and Iat Automobile Technology, you can compare the effects of market volatilities on Wuhan Xianglong and Iat Automobile 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 Wuhan Xianglong with a short position of Iat Automobile. Check out your portfolio center. Please also check ongoing floating volatility patterns of Wuhan Xianglong and Iat Automobile.
Diversification Opportunities for Wuhan Xianglong and Iat Automobile
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Wuhan and Iat is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Wuhan Xianglong Power and Iat Automobile Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Iat Automobile Technology and Wuhan Xianglong 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 Wuhan Xianglong Power are associated (or correlated) with Iat Automobile. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Iat Automobile Technology has no effect on the direction of Wuhan Xianglong i.e., Wuhan Xianglong and Iat Automobile go up and down completely randomly.
Pair Corralation between Wuhan Xianglong and Iat Automobile
If you would invest 1,276 in Iat Automobile Technology on August 27, 2024 and sell it today you would lose (25.00) from holding Iat Automobile Technology or give up 1.96% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Wuhan Xianglong Power vs. Iat Automobile Technology
Performance |
| Timeline |
| Wuhan Xianglong Power |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Solid
| Iat Automobile Technology |
Wuhan Xianglong and Iat Automobile Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Wuhan Xianglong and Iat Automobile
The main advantage of trading using opposite Wuhan Xianglong and Iat Automobile positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Wuhan Xianglong position performs unexpectedly, Iat Automobile 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 Iat Automobile will offset losses from the drop in Iat Automobile's long position.| Wuhan Xianglong vs. Linewell Software Co | Wuhan Xianglong vs. Saurer Intelligent Technology | Wuhan Xianglong vs. Western Metal Materials | Wuhan Xianglong vs. Kuangda Technology Group |
| Iat Automobile vs. Loongson Technology Corp | Iat Automobile vs. Chongqing Road Bridge | Iat Automobile vs. Shenzhen Fortune Trend | Iat Automobile vs. Wuhan Xianglong Power |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Other Complementary Tools
| Idea Breakdown Analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Portfolio Manager State of the art Portfolio Manager to monitor and improve performance of your invested capital |