Correlation Between MOGU and Ingersoll Rand
Can any of the company-specific risk be diversified away by investing in both MOGU and Ingersoll Rand 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 MOGU and Ingersoll Rand into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between MOGU Inc and Ingersoll Rand, you can compare the effects of market volatilities on MOGU and Ingersoll Rand 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 MOGU with a short position of Ingersoll Rand. Check out your portfolio center. Please also check ongoing floating volatility patterns of MOGU and Ingersoll Rand.
Diversification Opportunities for MOGU and Ingersoll Rand
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between MOGU and Ingersoll is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding MOGU Inc and Ingersoll Rand in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ingersoll Rand and MOGU 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 MOGU Inc are associated (or correlated) with Ingersoll Rand. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ingersoll Rand has no effect on the direction of MOGU i.e., MOGU and Ingersoll Rand go up and down completely randomly.
Pair Corralation between MOGU and Ingersoll Rand
If you would invest 216.00 in MOGU Inc on October 25, 2024 and sell it today you would earn a total of 38.24 from holding MOGU Inc or generate 17.7% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 0.0% |
Values | Daily Returns |
MOGU Inc vs. Ingersoll Rand
Performance |
Timeline |
MOGU Inc |
Ingersoll Rand |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
MOGU and Ingersoll Rand Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with MOGU and Ingersoll Rand
The main advantage of trading using opposite MOGU and Ingersoll Rand positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MOGU position performs unexpectedly, Ingersoll Rand 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 Ingersoll Rand will offset losses from the drop in Ingersoll Rand's long position.MOGU vs. iPower Inc | MOGU vs. LightInTheBox Holding Co | MOGU vs. Qurate Retail Series | MOGU vs. Kidpik Corp |
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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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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