Correlation Between 88579YAV3 and Senmiao Technology
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By analyzing existing cross correlation between 3M 225 percent and Senmiao Technology, you can compare the effects of market volatilities on 88579YAV3 and Senmiao Technology 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 88579YAV3 with a short position of Senmiao Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of 88579YAV3 and Senmiao Technology.
Diversification Opportunities for 88579YAV3 and Senmiao Technology
0.47 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between 88579YAV3 and Senmiao is 0.47. Overlapping area represents the amount of risk that can be diversified away by holding 3M 225 percent and Senmiao Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Senmiao Technology and 88579YAV3 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 3M 225 percent are associated (or correlated) with Senmiao Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Senmiao Technology has no effect on the direction of 88579YAV3 i.e., 88579YAV3 and Senmiao Technology go up and down completely randomly.
Pair Corralation between 88579YAV3 and Senmiao Technology
Assuming the 90 days trading horizon 88579YAV3 is expected to generate 137.92 times less return on investment than Senmiao Technology. But when comparing it to its historical volatility, 3M 225 percent is 11.82 times less risky than Senmiao Technology. It trades about 0.0 of its potential returns per unit of risk. Senmiao Technology is currently generating about 0.03 of returns per unit of risk over similar time horizon. If you would invest 89.00 in Senmiao Technology on September 4, 2024 and sell it today you would earn a total of 0.00 from holding Senmiao Technology or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 94.13% |
| Values | Daily Returns |
3M 225 percent vs. Senmiao Technology
Performance |
| Timeline |
| 3M 225 percent |
| Senmiao Technology |
88579YAV3 and Senmiao Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with 88579YAV3 and Senmiao Technology
The main advantage of trading using opposite 88579YAV3 and Senmiao Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if 88579YAV3 position performs unexpectedly, Senmiao Technology 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 Senmiao Technology will offset losses from the drop in Senmiao Technology's long position.| 88579YAV3 vs. Old Republic International | 88579YAV3 vs. Playtika Holding Corp | 88579YAV3 vs. Cincinnati Financial | 88579YAV3 vs. ScanSource |
| Senmiao Technology vs. X Financial Class | Senmiao Technology vs. Yirendai | Senmiao Technology vs. Pintec Technology Holdings | Senmiao Technology vs. Qudian Inc |
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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