Correlation Between Ihuman and 713448EG9
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By analyzing existing cross correlation between Ihuman Inc and US713448EG97, you can compare the effects of market volatilities on Ihuman and 713448EG9 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 713448EG9. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ihuman and 713448EG9.
Diversification Opportunities for Ihuman and 713448EG9
Significant diversification
The 3 months correlation between Ihuman and 713448EG9 is 0.02. Overlapping area represents the amount of risk that can be diversified away by holding Ihuman Inc and US713448EG97 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on US713448EG97 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 713448EG9. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of US713448EG97 has no effect on the direction of Ihuman i.e., Ihuman and 713448EG9 go up and down completely randomly.
Pair Corralation between Ihuman and 713448EG9
Allowing for the 90-day total investment horizon Ihuman Inc is expected to under-perform the 713448EG9. In addition to that, Ihuman is 6.68 times more volatile than US713448EG97. It trades about -0.04 of its total potential returns per unit of risk. US713448EG97 is currently generating about 0.02 per unit of volatility. If you would invest 11,159 in US713448EG97 on September 3, 2024 and sell it today you would earn a total of 197.00 from holding US713448EG97 or generate 1.77% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 96.93% |
| Values | Daily Returns |
Ihuman Inc vs. US713448EG97
Performance |
| Timeline |
| Ihuman Inc |
| US713448EG97 |
Ihuman and 713448EG9 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ihuman and 713448EG9
The main advantage of trading using opposite Ihuman and 713448EG9 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ihuman position performs unexpectedly, 713448EG9 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 713448EG9 will offset losses from the drop in 713448EG9's long position.| Ihuman vs. Boqii Holding Limited | Ihuman vs. Lixiang Education Holding | Ihuman vs. Huize Holding | Ihuman vs. Kuke Music Holding |
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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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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