Correlation Between Genesis Growth and U Power
Can any of the company-specific risk be diversified away by investing in both Genesis Growth and U Power 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 Genesis Growth and U Power into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Genesis Growth Tech and U Power Limited, you can compare the effects of market volatilities on Genesis Growth and U Power 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 Genesis Growth with a short position of U Power. Check out your portfolio center. Please also check ongoing floating volatility patterns of Genesis Growth and U Power.
Diversification Opportunities for Genesis Growth and U Power
0.33 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Genesis and UCAR is 0.33. Overlapping area represents the amount of risk that can be diversified away by holding Genesis Growth Tech and U Power Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on U Power Limited and Genesis Growth 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 Genesis Growth Tech are associated (or correlated) with U Power. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of U Power Limited has no effect on the direction of Genesis Growth i.e., Genesis Growth and U Power go up and down completely randomly.
Pair Corralation between Genesis Growth and U Power
If you would invest 18.00 in Genesis Growth Tech on August 30, 2024 and sell it today you would earn a total of 0.00 from holding Genesis Growth Tech or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 4.35% |
| Values | Daily Returns |
Genesis Growth Tech vs. U Power Limited
Performance |
| Timeline |
| Genesis Growth Tech |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| U Power Limited |
Genesis Growth and U Power Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Genesis Growth and U Power
The main advantage of trading using opposite Genesis Growth and U Power positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Genesis Growth position performs unexpectedly, U Power 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 U Power will offset losses from the drop in U Power's long position.| Genesis Growth vs. Tesla Inc | Genesis Growth vs. Brunswick | Genesis Growth vs. Radcom | Genesis Growth vs. Cars Inc |
| U Power vs. Kaixin Auto Holdings | U Power vs. Uxin | U Power vs. SunCar Technology Group | U Power vs. Carvana 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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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