Correlation Between Repligen and ZEEKR Intelligent
Can any of the company-specific risk be diversified away by investing in both Repligen and ZEEKR Intelligent 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 Repligen and ZEEKR Intelligent into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Repligen and ZEEKR Intelligent Technology, you can compare the effects of market volatilities on Repligen and ZEEKR Intelligent 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 Repligen with a short position of ZEEKR Intelligent. Check out your portfolio center. Please also check ongoing floating volatility patterns of Repligen and ZEEKR Intelligent.
Diversification Opportunities for Repligen and ZEEKR Intelligent
-0.21 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Repligen and ZEEKR is -0.21. Overlapping area represents the amount of risk that can be diversified away by holding Repligen and ZEEKR Intelligent Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ZEEKR Intelligent and Repligen 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 Repligen are associated (or correlated) with ZEEKR Intelligent. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ZEEKR Intelligent has no effect on the direction of Repligen i.e., Repligen and ZEEKR Intelligent go up and down completely randomly.
Pair Corralation between Repligen and ZEEKR Intelligent
Given the investment horizon of 90 days Repligen is expected to generate 0.53 times more return on investment than ZEEKR Intelligent. However, Repligen is 1.89 times less risky than ZEEKR Intelligent. It trades about 0.15 of its potential returns per unit of risk. ZEEKR Intelligent Technology is currently generating about 0.0 per unit of risk. If you would invest 13,427 in Repligen on September 1, 2024 and sell it today you would earn a total of 1,627 from holding Repligen or generate 12.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Repligen vs. ZEEKR Intelligent Technology
Performance |
| Timeline |
| Repligen |
| ZEEKR Intelligent |
Repligen and ZEEKR Intelligent Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Repligen and ZEEKR Intelligent
The main advantage of trading using opposite Repligen and ZEEKR Intelligent positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Repligen position performs unexpectedly, ZEEKR Intelligent 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 ZEEKR Intelligent will offset losses from the drop in ZEEKR Intelligent's long position.| Repligen vs. Intuitive Surgical | Repligen vs. ResMed Inc | Repligen vs. Merit Medical Systems | Repligen vs. ICU Medical |
| ZEEKR Intelligent vs. Nio Class A | ZEEKR Intelligent vs. Xpeng Inc | ZEEKR Intelligent vs. Tesla Inc | ZEEKR Intelligent vs. Li Auto |
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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