Correlation Between ScanTech and Inno Holdings
Can any of the company-specific risk be diversified away by investing in both ScanTech and Inno Holdings 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 ScanTech and Inno Holdings into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ScanTech AI Systems and Inno Holdings Common, you can compare the effects of market volatilities on ScanTech and Inno Holdings 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 ScanTech with a short position of Inno Holdings. Check out your portfolio center. Please also check ongoing floating volatility patterns of ScanTech and Inno Holdings.
Diversification Opportunities for ScanTech and Inno Holdings
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between ScanTech and Inno is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding ScanTech AI Systems and Inno Holdings Common in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Inno Holdings Common and ScanTech 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 ScanTech AI Systems are associated (or correlated) with Inno Holdings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Inno Holdings Common has no effect on the direction of ScanTech i.e., ScanTech and Inno Holdings go up and down completely randomly.
Pair Corralation between ScanTech and Inno Holdings
Given the investment horizon of 90 days ScanTech AI Systems is expected to generate 0.98 times more return on investment than Inno Holdings. However, ScanTech AI Systems is 1.02 times less risky than Inno Holdings. It trades about -0.15 of its potential returns per unit of risk. Inno Holdings Common is currently generating about -0.36 per unit of risk. If you would invest 1,060 in ScanTech AI Systems on October 12, 2025 and sell it today you would lose (795.00) from holding ScanTech AI Systems or give up 75.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
ScanTech AI Systems vs. Inno Holdings Common
Performance |
| Timeline |
| ScanTech AI Systems |
| Inno Holdings Common |
ScanTech and Inno Holdings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ScanTech and Inno Holdings
The main advantage of trading using opposite ScanTech and Inno Holdings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ScanTech position performs unexpectedly, Inno Holdings 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 Inno Holdings will offset losses from the drop in Inno Holdings' long position.| ScanTech vs. Electra Battery Materials | ScanTech vs. SenesTech | ScanTech vs. Huadi International Group | ScanTech vs. Algoma Steel Group |
| Inno Holdings vs. Gulf Resources Common | Inno Holdings vs. ZK International Group | Inno Holdings vs. Origin Agritech | Inno Holdings vs. Foremost Lithium Resource |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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