Correlation Between Ningbo Fangzheng and Kandi Technologies
Specify exactly 2 symbols:
By analyzing existing cross correlation between Ningbo Fangzheng Automobile and Kandi Technologies Group, you can compare the effects of market volatilities on Ningbo Fangzheng and Kandi Technologies 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 Ningbo Fangzheng with a short position of Kandi Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ningbo Fangzheng and Kandi Technologies.
Diversification Opportunities for Ningbo Fangzheng and Kandi Technologies
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Ningbo and Kandi is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding Ningbo Fangzheng Automobile and Kandi Technologies Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kandi Technologies and Ningbo Fangzheng 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 Ningbo Fangzheng Automobile are associated (or correlated) with Kandi Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kandi Technologies has no effect on the direction of Ningbo Fangzheng i.e., Ningbo Fangzheng and Kandi Technologies go up and down completely randomly.
Pair Corralation between Ningbo Fangzheng and Kandi Technologies
Assuming the 90 days trading horizon Ningbo Fangzheng Automobile is expected to generate 0.92 times more return on investment than Kandi Technologies. However, Ningbo Fangzheng Automobile is 1.09 times less risky than Kandi Technologies. It trades about -0.13 of its potential returns per unit of risk. Kandi Technologies Group is currently generating about -0.26 per unit of risk. If you would invest 2,701 in Ningbo Fangzheng Automobile on September 7, 2025 and sell it today you would lose (452.00) from holding Ningbo Fangzheng Automobile or give up 16.73% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 92.19% |
| Values | Daily Returns |
Ningbo Fangzheng Automobile vs. Kandi Technologies Group
Performance |
| Timeline |
| Ningbo Fangzheng Aut |
| Kandi Technologies |
Ningbo Fangzheng and Kandi Technologies Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ningbo Fangzheng and Kandi Technologies
The main advantage of trading using opposite Ningbo Fangzheng and Kandi Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ningbo Fangzheng position performs unexpectedly, Kandi Technologies 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 Kandi Technologies will offset losses from the drop in Kandi Technologies' long position.| Ningbo Fangzheng vs. Ming Yang Smart | Ningbo Fangzheng vs. 159681 | Ningbo Fangzheng vs. 159005 | Ningbo Fangzheng vs. Loctek Ergonomic Technology |
| Kandi Technologies vs. Genesis Electronics Group | Kandi Technologies vs. Chatham Lodging Trust | Kandi Technologies vs. Wyndham Hotels Resorts | Kandi Technologies vs. Tel Instrument Electronics Corp |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
Other Complementary Tools
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios |