Correlation Between Cenntro Electric and Fisker
Can any of the company-specific risk be diversified away by investing in both Cenntro Electric and Fisker 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 Cenntro Electric and Fisker into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cenntro Electric Group and Fisker Inc, you can compare the effects of market volatilities on Cenntro Electric and Fisker 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 Cenntro Electric with a short position of Fisker. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cenntro Electric and Fisker.
Diversification Opportunities for Cenntro Electric and Fisker
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Cenntro and Fisker is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Cenntro Electric Group and Fisker Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fisker Inc and Cenntro Electric 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 Cenntro Electric Group are associated (or correlated) with Fisker. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fisker Inc has no effect on the direction of Cenntro Electric i.e., Cenntro Electric and Fisker go up and down completely randomly.
Pair Corralation between Cenntro Electric and Fisker
If you would invest (100.00) in Fisker Inc on March 15, 2025 and sell it today you would earn a total of 100.00 from holding Fisker Inc or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Cenntro Electric Group vs. Fisker Inc
Performance |
| Timeline |
| Cenntro Electric |
| Fisker Inc |
Risk-Adjusted Performance
Very Weak
Weak | Strong |
Cenntro Electric and Fisker Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cenntro Electric and Fisker
The main advantage of trading using opposite Cenntro Electric and Fisker positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cenntro Electric position performs unexpectedly, Fisker 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 Fisker will offset losses from the drop in Fisker's long position.| Cenntro Electric vs. Mullen Automotive | Cenntro Electric vs. AYRO Inc | Cenntro Electric vs. Workhorse Group | Cenntro Electric vs. GreenPower Motor |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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