Correlation Between Cinda Securities and Iat Automobile
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By analyzing existing cross correlation between Cinda Securities Co and Iat Automobile Technology, you can compare the effects of market volatilities on Cinda Securities 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 Cinda Securities with a short position of Iat Automobile. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cinda Securities and Iat Automobile.
Diversification Opportunities for Cinda Securities and Iat Automobile
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Cinda and Iat is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Cinda Securities Co 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 Cinda Securities 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 Cinda Securities Co 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 Cinda Securities i.e., Cinda Securities and Iat Automobile go up and down completely randomly.
Pair Corralation between Cinda Securities and Iat Automobile
Assuming the 90 days trading horizon Cinda Securities Co is expected to generate 0.87 times more return on investment than Iat Automobile. However, Cinda Securities Co is 1.15 times less risky than Iat Automobile. It trades about 0.03 of its potential returns per unit of risk. Iat Automobile Technology is currently generating about 0.02 per unit of risk. If you would invest 1,179 in Cinda Securities Co on September 26, 2024 and sell it today you would earn a total of 340.00 from holding Cinda Securities Co or generate 28.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 97.06% |
| Values | Daily Returns |
Cinda Securities Co vs. Iat Automobile Technology
Performance |
| Timeline |
| Cinda Securities |
| Iat Automobile Technology |
Cinda Securities and Iat Automobile Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cinda Securities and Iat Automobile
The main advantage of trading using opposite Cinda Securities and Iat Automobile positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cinda Securities 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.| Cinda Securities vs. Kweichow Moutai Co | Cinda Securities vs. Contemporary Amperex Technology | Cinda Securities vs. G bits Network Technology | Cinda Securities vs. BYD Co Ltd |
| Iat Automobile vs. China Life Insurance | Iat Automobile vs. Cinda Securities Co | Iat Automobile vs. Piotech Inc A | Iat Automobile vs. Dongxing Sec Co |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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