Correlation Between MOGU and CABKSM
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By analyzing existing cross correlation between MOGU Inc and CABKSM 6208 18 JAN 29, you can compare the effects of market volatilities on MOGU and CABKSM 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 MOGU with a short position of CABKSM. Check out your portfolio center. Please also check ongoing floating volatility patterns of MOGU and CABKSM.
Diversification Opportunities for MOGU and CABKSM
Very good diversification
The 3 months correlation between MOGU and CABKSM is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding MOGU Inc and CABKSM 6208 18 JAN 29 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on CABKSM 6208 18 and MOGU 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 MOGU Inc are associated (or correlated) with CABKSM. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of CABKSM 6208 18 has no effect on the direction of MOGU i.e., MOGU and CABKSM go up and down completely randomly.
Pair Corralation between MOGU and CABKSM
Given the investment horizon of 90 days MOGU Inc is expected to generate 4.92 times more return on investment than CABKSM. However, MOGU is 4.92 times more volatile than CABKSM 6208 18 JAN 29. It trades about 0.18 of its potential returns per unit of risk. CABKSM 6208 18 JAN 29 is currently generating about 0.07 per unit of risk. If you would invest 230.00 in MOGU Inc on November 4, 2024 and sell it today you would earn a total of 20.00 from holding MOGU Inc or generate 8.7% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 75.0% |
| Values | Daily Returns |
MOGU Inc vs. CABKSM 6208 18 JAN 29
Performance |
| Timeline |
| MOGU Inc |
| CABKSM 6208 18 |
MOGU and CABKSM Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MOGU and CABKSM
The main advantage of trading using opposite MOGU and CABKSM positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MOGU position performs unexpectedly, CABKSM 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 CABKSM will offset losses from the drop in CABKSM's long position.| MOGU vs. iPower Inc | MOGU vs. LightInTheBox Holding Co | MOGU vs. Qurate Retail Series | MOGU vs. Kidpik Corp |
| CABKSM vs. AEP TEX INC | CABKSM vs. US BANK NATIONAL | CABKSM vs. Reliance Global Group | CABKSM vs. Bayerische Motoren Werke |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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