Correlation Between H3698DDR2 and Senmiao Technology
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By analyzing existing cross correlation between CS 6373 15 JUL 26 and Senmiao Technology, you can compare the effects of market volatilities on H3698DDR2 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 H3698DDR2 with a short position of Senmiao Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of H3698DDR2 and Senmiao Technology.
Diversification Opportunities for H3698DDR2 and Senmiao Technology
0.3 | Correlation Coefficient |
Weak diversification
The 3 months correlation between H3698DDR2 and Senmiao is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding CS 6373 15 JUL 26 and Senmiao Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Senmiao Technology and H3698DDR2 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 CS 6373 15 JUL 26 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 H3698DDR2 i.e., H3698DDR2 and Senmiao Technology go up and down completely randomly.
Pair Corralation between H3698DDR2 and Senmiao Technology
Assuming the 90 days trading horizon CS 6373 15 JUL 26 is expected to under-perform the Senmiao Technology. But the bond apears to be less risky and, when comparing its historical volatility, CS 6373 15 JUL 26 is 5.3 times less risky than Senmiao Technology. The bond trades about -0.02 of its potential returns per unit of risk. The Senmiao Technology is currently generating about 0.09 of returns per unit of risk over similar time horizon. If you would invest 34.00 in Senmiao Technology on September 4, 2024 and sell it today you would earn a total of 54.00 from holding Senmiao Technology or generate 158.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 77.73% |
| Values | Daily Returns |
CS 6373 15 JUL 26 vs. Senmiao Technology
Performance |
| Timeline |
| CS 6373 15 |
| Senmiao Technology |
H3698DDR2 and Senmiao Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with H3698DDR2 and Senmiao Technology
The main advantage of trading using opposite H3698DDR2 and Senmiao Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if H3698DDR2 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.| H3698DDR2 vs. Sabre Corpo | H3698DDR2 vs. Aldel Financial II | H3698DDR2 vs. Getty Realty | H3698DDR2 vs. Papaya Growth Opportunity |
| 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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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