Correlation Between Ihuman and BOEING
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By analyzing existing cross correlation between Ihuman Inc and BOEING CO, you can compare the effects of market volatilities on Ihuman and BOEING 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 BOEING. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ihuman and BOEING.
Diversification Opportunities for Ihuman and BOEING
Very good diversification
The 3 months correlation between Ihuman and BOEING is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding Ihuman Inc and BOEING CO in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BOEING CO 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 BOEING. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BOEING CO has no effect on the direction of Ihuman i.e., Ihuman and BOEING go up and down completely randomly.
Pair Corralation between Ihuman and BOEING
Allowing for the 90-day total investment horizon Ihuman Inc is expected to under-perform the BOEING. In addition to that, Ihuman is 2.33 times more volatile than BOEING CO. It trades about -0.11 of its total potential returns per unit of risk. BOEING CO is currently generating about 0.07 per unit of volatility. If you would invest 9,650 in BOEING CO on September 4, 2024 and sell it today you would earn a total of 122.00 from holding BOEING CO or generate 1.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Ihuman Inc vs. BOEING CO
Performance |
| Timeline |
| Ihuman Inc |
| BOEING CO |
Ihuman and BOEING Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ihuman and BOEING
The main advantage of trading using opposite Ihuman and BOEING positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ihuman position performs unexpectedly, BOEING 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 BOEING will offset losses from the drop in BOEING's long position.| Ihuman vs. Boqii Holding Limited | Ihuman vs. Lixiang Education Holding | Ihuman vs. Huize Holding | Ihuman vs. Kuke Music Holding |
| BOEING vs. Air Transport Services | BOEING vs. Wabash National | BOEING vs. PACCAR Inc | BOEING vs. Modine Manufacturing |
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 Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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