Correlation Between Contagious Gaming and U Power
Can any of the company-specific risk be diversified away by investing in both Contagious Gaming 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 Contagious Gaming and U Power into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Contagious Gaming and U Power Limited, you can compare the effects of market volatilities on Contagious Gaming 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 Contagious Gaming with a short position of U Power. Check out your portfolio center. Please also check ongoing floating volatility patterns of Contagious Gaming and U Power.
Diversification Opportunities for Contagious Gaming and U Power
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Contagious and UCAR is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Contagious Gaming 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 Contagious Gaming 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 Contagious Gaming 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 Contagious Gaming i.e., Contagious Gaming and U Power go up and down completely randomly.
Pair Corralation between Contagious Gaming and U Power
If you would invest 264.00 in U Power Limited on January 13, 2025 and sell it today you would earn a total of 4.00 from holding U Power Limited or generate 1.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Contagious Gaming vs. U Power Limited
Performance |
| Timeline |
| Contagious Gaming |
| U Power Limited |
Contagious Gaming and U Power Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Contagious Gaming and U Power
The main advantage of trading using opposite Contagious Gaming and U Power positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Contagious Gaming 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.| Contagious Gaming vs. Gravity Co | Contagious Gaming vs. Galaxy Gaming | Contagious Gaming vs. Silicon Gaming | Contagious Gaming vs. Tianjin Capital Environmental |
| 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 Stocks Directory module to find actively traded stocks across global markets.
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