Correlation Between VNET Group and IWallet
Can any of the company-specific risk be diversified away by investing in both VNET Group and IWallet at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining VNET Group and IWallet into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between VNET Group DRC and iWallet, you can compare the effects of market volatilities on VNET Group and IWallet 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 VNET Group with a short position of IWallet. Check out your portfolio center. Please also check ongoing floating volatility patterns of VNET Group and IWallet.
Diversification Opportunities for VNET Group and IWallet
-0.53 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between VNET and IWallet is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding VNET Group DRC and iWallet in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on iWallet and VNET Group 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 VNET Group DRC are associated (or correlated) with IWallet. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of iWallet has no effect on the direction of VNET Group i.e., VNET Group and IWallet go up and down completely randomly.
Pair Corralation between VNET Group and IWallet
Given the investment horizon of 90 days VNET Group DRC is expected to generate 0.97 times more return on investment than IWallet. However, VNET Group DRC is 1.03 times less risky than IWallet. It trades about 0.08 of its potential returns per unit of risk. iWallet is currently generating about -0.04 per unit of risk. If you would invest 970.00 in VNET Group DRC on November 10, 2025 and sell it today you would earn a total of 150.00 from holding VNET Group DRC or generate 15.46% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 96.88% |
| Values | Daily Returns |
VNET Group DRC vs. iWallet
Performance |
| Timeline |
| VNET Group DRC |
| iWallet |
VNET Group and IWallet Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with VNET Group and IWallet
The main advantage of trading using opposite VNET Group and IWallet positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if VNET Group position performs unexpectedly, IWallet 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 IWallet will offset losses from the drop in IWallet's long position.| VNET Group vs. C3 Ai Inc | VNET Group vs. Globant SA | VNET Group vs. Innodata | VNET Group vs. CLARIVATE PLC |
| IWallet vs. Guardforce AI Co | IWallet vs. Kronos Advanced Technologies | IWallet vs. Rjd Green | IWallet vs. Treasure Shipwreck Recovery |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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