Correlation Between WEINGARTEN and Kandi Technologies
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By analyzing existing cross correlation between WEINGARTEN RLTY INVS and Kandi Technologies Group, you can compare the effects of market volatilities on WEINGARTEN and Kandi Technologies 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 WEINGARTEN with a short position of Kandi Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of WEINGARTEN and Kandi Technologies.
Diversification Opportunities for WEINGARTEN and Kandi Technologies
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between WEINGARTEN and Kandi is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding WEINGARTEN RLTY INVS and Kandi Technologies Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kandi Technologies and WEINGARTEN 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 WEINGARTEN RLTY INVS are associated (or correlated) with Kandi Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kandi Technologies has no effect on the direction of WEINGARTEN i.e., WEINGARTEN and Kandi Technologies go up and down completely randomly.
Pair Corralation between WEINGARTEN and Kandi Technologies
Assuming the 90 days trading horizon WEINGARTEN RLTY INVS is expected to generate 0.08 times more return on investment than Kandi Technologies. However, WEINGARTEN RLTY INVS is 12.07 times less risky than Kandi Technologies. It trades about 0.09 of its potential returns per unit of risk. Kandi Technologies Group is currently generating about -0.3 per unit of risk. If you would invest 9,692 in WEINGARTEN RLTY INVS on September 13, 2024 and sell it today you would earn a total of 49.00 from holding WEINGARTEN RLTY INVS or generate 0.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 80.95% |
| Values | Daily Returns |
WEINGARTEN RLTY INVS vs. Kandi Technologies Group
Performance |
| Timeline |
| WEINGARTEN RLTY INVS |
| Kandi Technologies |
WEINGARTEN and Kandi Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with WEINGARTEN and Kandi Technologies
The main advantage of trading using opposite WEINGARTEN and Kandi Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WEINGARTEN position performs unexpectedly, Kandi Technologies 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 Kandi Technologies will offset losses from the drop in Kandi Technologies' long position.| WEINGARTEN vs. Minerals Technologies | WEINGARTEN vs. Skillful Craftsman Education | WEINGARTEN vs. Afya | WEINGARTEN vs. Uber Technologies |
| Kandi Technologies vs. Hyliion Holdings Corp | Kandi Technologies vs. Foresight Autonomous Holdings | Kandi Technologies vs. Aeva Technologies | Kandi Technologies vs. Aeye 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 Stock Screener module to find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook..
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