Correlation Between Senmiao Technology and MRKGR
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By analyzing existing cross correlation between Senmiao Technology and MRKGR 325 19 MAR 25, you can compare the effects of market volatilities on Senmiao Technology and MRKGR 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 Senmiao Technology with a short position of MRKGR. Check out your portfolio center. Please also check ongoing floating volatility patterns of Senmiao Technology and MRKGR.
Diversification Opportunities for Senmiao Technology and MRKGR
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between Senmiao and MRKGR is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding Senmiao Technology and MRKGR 325 19 MAR 25 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on MRKGR 325 19 and Senmiao Technology 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 Senmiao Technology are associated (or correlated) with MRKGR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of MRKGR 325 19 has no effect on the direction of Senmiao Technology i.e., Senmiao Technology and MRKGR go up and down completely randomly.
Pair Corralation between Senmiao Technology and MRKGR
Given the investment horizon of 90 days Senmiao Technology is expected to under-perform the MRKGR. In addition to that, Senmiao Technology is 184.06 times more volatile than MRKGR 325 19 MAR 25. It trades about -0.04 of its total potential returns per unit of risk. MRKGR 325 19 MAR 25 is currently generating about 0.69 per unit of volatility. If you would invest 9,968 in MRKGR 325 19 MAR 25 on November 30, 2024 and sell it today you would earn a total of 23.00 from holding MRKGR 325 19 MAR 25 or generate 0.23% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 34.15% |
| Values | Daily Returns |
Senmiao Technology vs. MRKGR 325 19 MAR 25
Performance |
| Timeline |
| Senmiao Technology |
| MRKGR 325 19 |
Senmiao Technology and MRKGR Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Senmiao Technology and MRKGR
The main advantage of trading using opposite Senmiao Technology and MRKGR positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Senmiao Technology position performs unexpectedly, MRKGR 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 MRKGR will offset losses from the drop in MRKGR's long position.| Senmiao Technology vs. X Financial Class | Senmiao Technology vs. Yirendai | Senmiao Technology vs. Pintec Technology Holdings | Senmiao Technology vs. Qudian Inc |
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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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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