Correlation Between Ihuman and Interactive Brokers
Can any of the company-specific risk be diversified away by investing in both Ihuman and Interactive Brokers 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 Ihuman and Interactive Brokers into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Ihuman Inc and Interactive Brokers Group, you can compare the effects of market volatilities on Ihuman and Interactive Brokers 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 Ihuman with a short position of Interactive Brokers. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ihuman and Interactive Brokers.
Diversification Opportunities for Ihuman and Interactive Brokers
-0.83 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Ihuman and Interactive is -0.83. Overlapping area represents the amount of risk that can be diversified away by holding Ihuman Inc and Interactive Brokers Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Interactive Brokers and Ihuman 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 Ihuman Inc are associated (or correlated) with Interactive Brokers. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Interactive Brokers has no effect on the direction of Ihuman i.e., Ihuman and Interactive Brokers go up and down completely randomly.
Pair Corralation between Ihuman and Interactive Brokers
Allowing for the 90-day total investment horizon Ihuman Inc is expected to under-perform the Interactive Brokers. In addition to that, Ihuman is 1.26 times more volatile than Interactive Brokers Group. It trades about -0.05 of its total potential returns per unit of risk. Interactive Brokers Group is currently generating about 0.22 per unit of volatility. If you would invest 14,801 in Interactive Brokers Group on October 24, 2024 and sell it today you would earn a total of 4,482 from holding Interactive Brokers Group or generate 30.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ihuman Inc vs. Interactive Brokers Group
Performance |
| Timeline |
| Ihuman Inc |
| Interactive Brokers |
Ihuman and Interactive Brokers Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ihuman and Interactive Brokers
The main advantage of trading using opposite Ihuman and Interactive Brokers positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ihuman position performs unexpectedly, Interactive Brokers 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 Interactive Brokers will offset losses from the drop in Interactive Brokers' long position.| Ihuman vs. Boqii Holding Limited | Ihuman vs. Lixiang Education Holding | Ihuman vs. Huize Holding | Ihuman vs. Kuke Music Holding |
| Interactive Brokers vs. Adtalem Global Education | Interactive Brokers vs. Loews Corp | Interactive Brokers vs. Udemy Inc | Interactive Brokers vs. Ihuman Inc |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
Other Complementary Tools
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Instant Ratings Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance |