Correlation Between 36158FAA8 and U Power
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By analyzing existing cross correlation between GE GLOBAL INS and U Power Limited, you can compare the effects of market volatilities on 36158FAA8 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 36158FAA8 with a short position of U Power. Check out your portfolio center. Please also check ongoing floating volatility patterns of 36158FAA8 and U Power.
Diversification Opportunities for 36158FAA8 and U Power
Good diversification
The 3 months correlation between 36158FAA8 and UCAR is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding GE GLOBAL INS 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 36158FAA8 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 GE GLOBAL INS 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 36158FAA8 i.e., 36158FAA8 and U Power go up and down completely randomly.
Pair Corralation between 36158FAA8 and U Power
Assuming the 90 days trading horizon 36158FAA8 is expected to generate 171.71 times less return on investment than U Power. But when comparing it to its historical volatility, GE GLOBAL INS is 73.16 times less risky than U Power. It trades about 0.02 of its potential returns per unit of risk. U Power Limited is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 22,800 in U Power Limited on September 14, 2024 and sell it today you would lose (22,056) from holding U Power Limited or give up 96.74% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 71.75% |
| Values | Daily Returns |
GE GLOBAL INS vs. U Power Limited
Performance |
| Timeline |
| GE GLOBAL INS |
| U Power Limited |
36158FAA8 and U Power Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 36158FAA8 and U Power
The main advantage of trading using opposite 36158FAA8 and U Power positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 36158FAA8 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.| 36158FAA8 vs. U Power Limited | 36158FAA8 vs. Sun Country Airlines | 36158FAA8 vs. TFI International | 36158FAA8 vs. Visteon Corp |
| 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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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