Correlation Between Iat Automobile and Ingenic Semiconductor
Specify exactly 2 symbols:
By analyzing existing cross correlation between Iat Automobile Technology and Ingenic Semiconductor, you can compare the effects of market volatilities on Iat Automobile and Ingenic Semiconductor 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 Ingenic Semiconductor. Check out your portfolio center. Please also check ongoing floating volatility patterns of Iat Automobile and Ingenic Semiconductor.
Diversification Opportunities for Iat Automobile and Ingenic Semiconductor
0.52 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Iat and Ingenic is 0.52. Overlapping area represents the amount of risk that can be diversified away by holding Iat Automobile Technology and Ingenic Semiconductor in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ingenic Semiconductor 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 Ingenic Semiconductor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ingenic Semiconductor has no effect on the direction of Iat Automobile i.e., Iat Automobile and Ingenic Semiconductor go up and down completely randomly.
Pair Corralation between Iat Automobile and Ingenic Semiconductor
Assuming the 90 days trading horizon Iat Automobile Technology is expected to under-perform the Ingenic Semiconductor. In addition to that, Iat Automobile is 1.07 times more volatile than Ingenic Semiconductor. It trades about -0.17 of its total potential returns per unit of risk. Ingenic Semiconductor is currently generating about -0.01 per unit of volatility. If you would invest 6,931 in Ingenic Semiconductor on October 3, 2024 and sell it today you would lose (111.00) from holding Ingenic Semiconductor or give up 1.6% of portfolio value over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 100.0% |
Values | Daily Returns |
Iat Automobile Technology vs. Ingenic Semiconductor
Performance |
Timeline |
Iat Automobile Technology |
Ingenic Semiconductor |
Iat Automobile and Ingenic Semiconductor Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Iat Automobile and Ingenic Semiconductor
The main advantage of trading using opposite Iat Automobile and Ingenic Semiconductor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Iat Automobile position performs unexpectedly, Ingenic Semiconductor 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 Ingenic Semiconductor will offset losses from the drop in Ingenic Semiconductor's long position.Iat Automobile vs. Industrial and Commercial | Iat Automobile vs. China Construction Bank | Iat Automobile vs. Agricultural Bank of | Iat Automobile vs. Bank of China |
Ingenic Semiconductor vs. Industrial and Commercial | Ingenic Semiconductor vs. China Construction Bank | Ingenic Semiconductor vs. Bank of China | Ingenic Semiconductor vs. Agricultural Bank of |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
Other Complementary Tools
Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets |