Correlation Between ZhongAn Online and Nixxy,

Can any of the company-specific risk be diversified away by investing in both ZhongAn Online and Nixxy, 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 ZhongAn Online and Nixxy, into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between ZhongAn Online P and Nixxy, Inc, you can compare the effects of market volatilities on ZhongAn Online and Nixxy, 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 ZhongAn Online with a short position of Nixxy,. Check out your portfolio center. Please also check ongoing floating volatility patterns of ZhongAn Online and Nixxy,.

Diversification Opportunities for ZhongAn Online and Nixxy,

-0.49

Correlation Coefficient

ZhongAn Online  Nixxy,

Very good diversification

The 3 months correlation between ZhongAn and Nixxy, is -0.49. Overlapping area represents the amount of risk that can be diversified away by holding ZhongAn Online P and Nixxy, Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Nixxy, Inc and ZhongAn Online 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 ZhongAn Online P are associated (or correlated) with Nixxy,. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Nixxy, Inc has no effect on the direction of ZhongAn Online i.e., ZhongAn Online and Nixxy, go up and down completely randomly.

Pair Corralation between ZhongAn Online and Nixxy,

Assuming the 90 days horizon ZhongAn Online P is expected to under-perform the Nixxy,. But the pink sheet apears to be less risky and, when comparing its historical volatility, ZhongAn Online P is 1.8 times less risky than Nixxy,. The pink sheet trades about -0.14 of its potential returns per unit of risk. The Nixxy, Inc is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest  295.00  in Nixxy, Inc on October 6, 2024 and sell it today you would earn a total of  313.00  from holding Nixxy, Inc or generate 106.1% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

ZhongAn Online P  vs.  Nixxy, Inc

ZhongAn Online P

Risk-Adjusted Performance

0 of 100

Very Weak

Over the last 90 days ZhongAn Online P has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's technical and fundamental indicators remain fairly strong which may send shares a bit higher in February 2025. The current disturbance may also be a sign of long term up-swing for the company investors.

Nixxy, Inc

Risk-Adjusted Performance

16 of 100

Solid

Compared to the overall equity markets, risk-adjusted returns on investments in Nixxy, Inc are ranked lower than 16 (%) of all global equities and portfolios over the last 90 days. In spite of fairly weak basic indicators, Nixxy, showed solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with ZhongAn Online and Nixxy,

The main advantage of trading using opposite ZhongAn Online and Nixxy, positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ZhongAn Online position performs unexpectedly, Nixxy, 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 Nixxy, will offset losses from the drop in Nixxy,'s long position.

The idea behind ZhongAn Online P and Nixxy, Inc pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.