Correlation Between Quhuo and Logiq
Can any of the company-specific risk be diversified away by investing in both Quhuo and Logiq 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 Quhuo and Logiq into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Quhuo and Logiq Inc, you can compare the effects of market volatilities on Quhuo and Logiq 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 Quhuo with a short position of Logiq. Check out your portfolio center. Please also check ongoing floating volatility patterns of Quhuo and Logiq.
Diversification Opportunities for Quhuo and Logiq
Pay attention - limited upside
The 3 months correlation between Quhuo and Logiq is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding Quhuo and Logiq Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Logiq Inc and Quhuo 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 Quhuo are associated (or correlated) with Logiq. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Logiq Inc has no effect on the direction of Quhuo i.e., Quhuo and Logiq go up and down completely randomly.
Pair Corralation between Quhuo and Logiq
Allowing for the 90-day total investment horizon Quhuo is expected to generate 1.27 times more return on investment than Logiq. However, Quhuo is 1.27 times more volatile than Logiq Inc. It trades about 0.04 of its potential returns per unit of risk. Logiq Inc is currently generating about 0.0 per unit of risk. If you would invest 147.00 in Quhuo on August 31, 2024 and sell it today you would lose (7.00) from holding Quhuo or give up 4.76% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Quhuo vs. Logiq Inc
Performance |
| Timeline |
| Quhuo |
| Logiq Inc |
Quhuo and Logiq Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Quhuo and Logiq
The main advantage of trading using opposite Quhuo and Logiq positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Quhuo position performs unexpectedly, Logiq 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 Logiq will offset losses from the drop in Logiq's long position.| Quhuo vs. Sentage Holdings | Quhuo vs. Lixiang Education Holding | Quhuo vs. Huadi International Group | Quhuo vs. Baosheng Media Group |
| Logiq vs. Waldencast Acquisition Corp | Logiq vs. Alkami Technology | Logiq vs. ADEIA P | Logiq vs. Paycor HCM |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
Other Complementary Tools
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios |