Correlation Between Iat Automobile and Shenzhen Sunlord
Specify exactly 2 symbols:
By analyzing existing cross correlation between Iat Automobile Technology and Shenzhen Sunlord Electronics, you can compare the effects of market volatilities on Iat Automobile and Shenzhen Sunlord 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 Iat Automobile with a short position of Shenzhen Sunlord. Check out your portfolio center. Please also check ongoing floating volatility patterns of Iat Automobile and Shenzhen Sunlord.
Diversification Opportunities for Iat Automobile and Shenzhen Sunlord
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Iat and Shenzhen is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Iat Automobile Technology and Shenzhen Sunlord Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenzhen Sunlord Ele and Iat Automobile 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 Iat Automobile Technology are associated (or correlated) with Shenzhen Sunlord. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenzhen Sunlord Ele has no effect on the direction of Iat Automobile i.e., Iat Automobile and Shenzhen Sunlord go up and down completely randomly.
Pair Corralation between Iat Automobile and Shenzhen Sunlord
Assuming the 90 days trading horizon Iat Automobile Technology is expected to generate 1.72 times more return on investment than Shenzhen Sunlord. However, Iat Automobile is 1.72 times more volatile than Shenzhen Sunlord Electronics. It trades about 0.02 of its potential returns per unit of risk. Shenzhen Sunlord Electronics is currently generating about 0.04 per unit of risk. If you would invest 1,124 in Iat Automobile Technology on September 24, 2024 and sell it today you would earn a total of 89.00 from holding Iat Automobile Technology or generate 7.92% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Very Strong |
Accuracy | 100.0% |
Values | Daily Returns |
Iat Automobile Technology vs. Shenzhen Sunlord Electronics
Performance |
Timeline |
Iat Automobile Technology |
Shenzhen Sunlord Ele |
Iat Automobile and Shenzhen Sunlord Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Iat Automobile and Shenzhen Sunlord
The main advantage of trading using opposite Iat Automobile and Shenzhen Sunlord positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Iat Automobile position performs unexpectedly, Shenzhen Sunlord 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 Shenzhen Sunlord will offset losses from the drop in Shenzhen Sunlord's long position.Iat Automobile vs. China Life Insurance | Iat Automobile vs. Cinda Securities Co | Iat Automobile vs. Piotech Inc A | Iat Automobile vs. Dongxing Sec Co |
Shenzhen Sunlord vs. Industrial and Commercial | Shenzhen Sunlord vs. China Construction Bank | Shenzhen Sunlord vs. Agricultural Bank of | Shenzhen Sunlord vs. Bank of China |
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 CEOs Directory module to screen CEOs from public companies around the world.
Other Complementary Tools
Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
Alpha Finder Use alpha and beta coefficients to find investment opportunities after accounting for the risk |