Correlation Between ZEEKR Intelligent and LOBO EV
Can any of the company-specific risk be diversified away by investing in both ZEEKR Intelligent and LOBO EV 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 ZEEKR Intelligent and LOBO EV into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ZEEKR Intelligent Technology and LOBO EV TECHNOLOGIES, you can compare the effects of market volatilities on ZEEKR Intelligent and LOBO EV 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 ZEEKR Intelligent with a short position of LOBO EV. Check out your portfolio center. Please also check ongoing floating volatility patterns of ZEEKR Intelligent and LOBO EV.
Diversification Opportunities for ZEEKR Intelligent and LOBO EV
0.63 | Correlation Coefficient |
Poor diversification
The 3 months correlation between ZEEKR and LOBO is 0.63. Overlapping area represents the amount of risk that can be diversified away by holding ZEEKR Intelligent Technology and LOBO EV TECHNOLOGIES in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on LOBO EV TECHNOLOGIES and ZEEKR Intelligent 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 ZEEKR Intelligent Technology are associated (or correlated) with LOBO EV. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of LOBO EV TECHNOLOGIES has no effect on the direction of ZEEKR Intelligent i.e., ZEEKR Intelligent and LOBO EV go up and down completely randomly.
Pair Corralation between ZEEKR Intelligent and LOBO EV
Allowing for the 90-day total investment horizon ZEEKR Intelligent Technology is expected to under-perform the LOBO EV. In addition to that, ZEEKR Intelligent is 1.27 times more volatile than LOBO EV TECHNOLOGIES. It trades about -0.06 of its total potential returns per unit of risk. LOBO EV TECHNOLOGIES is currently generating about -0.04 per unit of volatility. If you would invest 245.00 in LOBO EV TECHNOLOGIES on August 30, 2024 and sell it today you would lose (23.00) from holding LOBO EV TECHNOLOGIES or give up 9.39% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
ZEEKR Intelligent Technology vs. LOBO EV TECHNOLOGIES
Performance |
| Timeline |
| ZEEKR Intelligent |
| LOBO EV TECHNOLOGIES |
ZEEKR Intelligent and LOBO EV Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ZEEKR Intelligent and LOBO EV
The main advantage of trading using opposite ZEEKR Intelligent and LOBO EV positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ZEEKR Intelligent position performs unexpectedly, LOBO EV 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 LOBO EV will offset losses from the drop in LOBO EV's long position.| ZEEKR Intelligent vs. Consol Energy | ZEEKR Intelligent vs. Olympic Steel | ZEEKR Intelligent vs. Western Copper and | ZEEKR Intelligent vs. Eldorado Gold Corp |
| LOBO EV vs. Aldel Financial II | LOBO EV vs. Western Acquisition Ventures | LOBO EV vs. Capital Clean Energy | LOBO EV vs. NetEase |
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 Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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