Correlation Between Chanson International and GreenPower
Can any of the company-specific risk be diversified away by investing in both Chanson International and GreenPower 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 Chanson International and GreenPower into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Chanson International Holding and GreenPower Motor, you can compare the effects of market volatilities on Chanson International and GreenPower 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 Chanson International with a short position of GreenPower. Check out your portfolio center. Please also check ongoing floating volatility patterns of Chanson International and GreenPower.
Diversification Opportunities for Chanson International and GreenPower
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Chanson and GreenPower is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding Chanson International Holding and GreenPower Motor in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GreenPower Motor and Chanson International 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 Chanson International Holding are associated (or correlated) with GreenPower. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GreenPower Motor has no effect on the direction of Chanson International i.e., Chanson International and GreenPower go up and down completely randomly.
Pair Corralation between Chanson International and GreenPower
Given the investment horizon of 90 days Chanson International Holding is expected to under-perform the GreenPower. In addition to that, Chanson International is 1.25 times more volatile than GreenPower Motor. It trades about -0.15 of its total potential returns per unit of risk. GreenPower Motor is currently generating about 0.0 per unit of volatility. If you would invest 380.00 in GreenPower Motor on July 26, 2025 and sell it today you would lose (89.00) from holding GreenPower Motor or give up 23.42% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 98.44% |
| Values | Daily Returns |
Chanson International Holding vs. GreenPower Motor
Performance |
| Timeline |
| Chanson International |
| GreenPower Motor |
Chanson International and GreenPower Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Chanson International and GreenPower
The main advantage of trading using opposite Chanson International and GreenPower positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Chanson International position performs unexpectedly, GreenPower 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 GreenPower will offset losses from the drop in GreenPower's long position.| Chanson International vs. One Group Hospitality | Chanson International vs. TH International Limited | Chanson International vs. GEN Restaurant Group, | Chanson International vs. GreenPower Motor |
| GreenPower vs. Purple Innovation | GreenPower vs. Kandi Technologies Group | GreenPower vs. Chanson International Holding | GreenPower vs. Full House Resorts |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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