Correlation Between 548661EH6 and U Power
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By analyzing existing cross correlation between LOW 375 01 APR 32 and U Power Limited, you can compare the effects of market volatilities on 548661EH6 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 548661EH6 with a short position of U Power. Check out your portfolio center. Please also check ongoing floating volatility patterns of 548661EH6 and U Power.
Diversification Opportunities for 548661EH6 and U Power
Good diversification
The 3 months correlation between 548661EH6 and UCAR is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding LOW 375 01 APR 32 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 548661EH6 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 LOW 375 01 APR 32 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 548661EH6 i.e., 548661EH6 and U Power go up and down completely randomly.
Pair Corralation between 548661EH6 and U Power
Assuming the 90 days trading horizon 548661EH6 is expected to generate 713.37 times less return on investment than U Power. But when comparing it to its historical volatility, LOW 375 01 APR 32 is 107.68 times less risky than U Power. It trades about 0.01 of its potential returns per unit of risk. U Power Limited is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 0.00 in U Power Limited on September 14, 2024 and sell it today you would earn a total of 710.00 from holding U Power Limited or generate 9.223372036854776E16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 88.19% |
| Values | Daily Returns |
LOW 375 01 APR 32 vs. U Power Limited
Performance |
| Timeline |
| LOW 375 01 |
| U Power Limited |
548661EH6 and U Power Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 548661EH6 and U Power
The main advantage of trading using opposite 548661EH6 and U Power positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 548661EH6 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.| 548661EH6 vs. U Power Limited | 548661EH6 vs. Aeye Inc | 548661EH6 vs. American Axle Manufacturing | 548661EH6 vs. Tesla Inc |
| 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 Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
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