Correlation Between ZW Data and Intelligent Group
Can any of the company-specific risk be diversified away by investing in both ZW Data and Intelligent Group at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining ZW Data and Intelligent Group into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ZW Data Action and Intelligent Group Limited, you can compare the effects of market volatilities on ZW Data and Intelligent Group 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 ZW Data with a short position of Intelligent Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of ZW Data and Intelligent Group.
Diversification Opportunities for ZW Data and Intelligent Group
-0.62 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between CNET and Intelligent is -0.62. Overlapping area represents the amount of risk that can be diversified away by holding ZW Data Action and Intelligent Group Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Intelligent Group and ZW Data 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 ZW Data Action are associated (or correlated) with Intelligent Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Intelligent Group has no effect on the direction of ZW Data i.e., ZW Data and Intelligent Group go up and down completely randomly.
Pair Corralation between ZW Data and Intelligent Group
Given the investment horizon of 90 days ZW Data Action is expected to under-perform the Intelligent Group. In addition to that, ZW Data is 1.2 times more volatile than Intelligent Group Limited. It trades about -0.12 of its total potential returns per unit of risk. Intelligent Group Limited is currently generating about -0.03 per unit of volatility. If you would invest 56.00 in Intelligent Group Limited on October 10, 2025 and sell it today you would lose (6.10) from holding Intelligent Group Limited or give up 10.89% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 97.56% |
| Values | Daily Returns |
ZW Data Action vs. Intelligent Group Limited
Performance |
| Timeline |
| ZW Data Action |
| Intelligent Group |
ZW Data and Intelligent Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ZW Data and Intelligent Group
The main advantage of trading using opposite ZW Data and Intelligent Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ZW Data position performs unexpectedly, Intelligent Group 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 Intelligent Group will offset losses from the drop in Intelligent Group's long position.| ZW Data vs. Baosheng Media Group | ZW Data vs. Cheetah Mobile | ZW Data vs. Onfolio Holdings | ZW Data vs. Star Fashion Culture |
| Intelligent Group vs. Galaxy Payroll Group | Intelligent Group vs. Iveda Solutions | Intelligent Group vs. Founder Group Limited | Intelligent Group vs. Antelope Enterprise Holdings |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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