Correlation Between MOGU and Zane Interactive
Can any of the company-specific risk be diversified away by investing in both MOGU and Zane Interactive 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 Zane Interactive into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between MOGU Inc and Zane Interactive Publishing, you can compare the effects of market volatilities on MOGU and Zane Interactive 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 Zane Interactive. Check out your portfolio center. Please also check ongoing floating volatility patterns of MOGU and Zane Interactive.
Diversification Opportunities for MOGU and Zane Interactive
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between MOGU and Zane is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding MOGU Inc and Zane Interactive Publishing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zane Interactive Pub 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 Zane Interactive. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zane Interactive Pub has no effect on the direction of MOGU i.e., MOGU and Zane Interactive go up and down completely randomly.
Pair Corralation between MOGU and Zane Interactive
If you would invest 205.00 in MOGU Inc on October 9, 2024 and sell it today you would earn a total of 35.00 from holding MOGU Inc or generate 17.07% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Flat |
Strength | Insignificant |
Accuracy | 95.24% |
Values | Daily Returns |
MOGU Inc vs. Zane Interactive Publishing
Performance |
Timeline |
MOGU Inc |
Zane Interactive Pub |
MOGU and Zane Interactive Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with MOGU and Zane Interactive
The main advantage of trading using opposite MOGU and Zane Interactive positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MOGU position performs unexpectedly, Zane Interactive 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 Zane Interactive will offset losses from the drop in Zane Interactive'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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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