Correlation Between Ihuman and 00206RAN2
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By analyzing existing cross correlation between Ihuman Inc and ATT INC 64, you can compare the effects of market volatilities on Ihuman and 00206RAN2 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 00206RAN2. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ihuman and 00206RAN2.
Diversification Opportunities for Ihuman and 00206RAN2
Good diversification
The 3 months correlation between Ihuman and 00206RAN2 is -0.08. Overlapping area represents the amount of risk that can be diversified away by holding Ihuman Inc and ATT INC 64 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ATT INC 64 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 00206RAN2. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ATT INC 64 has no effect on the direction of Ihuman i.e., Ihuman and 00206RAN2 go up and down completely randomly.
Pair Corralation between Ihuman and 00206RAN2
Allowing for the 90-day total investment horizon Ihuman Inc is expected to under-perform the 00206RAN2. In addition to that, Ihuman is 1.17 times more volatile than ATT INC 64. It trades about -0.02 of its total potential returns per unit of risk. ATT INC 64 is currently generating about 0.03 per unit of volatility. If you would invest 10,096 in ATT INC 64 on August 31, 2024 and sell it today you would earn a total of 288.00 from holding ATT INC 64 or generate 2.85% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 14.71% |
| Values | Daily Returns |
Ihuman Inc vs. ATT INC 64
Performance |
| Timeline |
| Ihuman Inc |
| ATT INC 64 |
Ihuman and 00206RAN2 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ihuman and 00206RAN2
The main advantage of trading using opposite Ihuman and 00206RAN2 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ihuman position performs unexpectedly, 00206RAN2 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 00206RAN2 will offset losses from the drop in 00206RAN2's long position.| Ihuman vs. Boqii Holding Limited | Ihuman vs. Lixiang Education Holding | Ihuman vs. Huize Holding | Ihuman vs. Kuke Music Holding |
| 00206RAN2 vs. PennantPark Floating Rate | 00206RAN2 vs. Franklin Credit Management | 00206RAN2 vs. Ihuman Inc | 00206RAN2 vs. Artisan Partners Asset |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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