Correlation Between Cheetah Mobile and ZW Data
Can any of the company-specific risk be diversified away by investing in both Cheetah Mobile and ZW Data 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 Cheetah Mobile and ZW Data into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cheetah Mobile and ZW Data Action, you can compare the effects of market volatilities on Cheetah Mobile and ZW Data 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 Cheetah Mobile with a short position of ZW Data. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cheetah Mobile and ZW Data.
Diversification Opportunities for Cheetah Mobile and ZW Data
0.73 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Cheetah and CNET is 0.73. Overlapping area represents the amount of risk that can be diversified away by holding Cheetah Mobile and ZW Data Action in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ZW Data Action and Cheetah Mobile 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 Cheetah Mobile are associated (or correlated) with ZW Data. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ZW Data Action has no effect on the direction of Cheetah Mobile i.e., Cheetah Mobile and ZW Data go up and down completely randomly.
Pair Corralation between Cheetah Mobile and ZW Data
Given the investment horizon of 90 days Cheetah Mobile is expected to generate 0.36 times more return on investment than ZW Data. However, Cheetah Mobile is 2.74 times less risky than ZW Data. It trades about -0.1 of its potential returns per unit of risk. ZW Data Action is currently generating about -0.07 per unit of risk. If you would invest 779.00 in Cheetah Mobile on November 28, 2025 and sell it today you would lose (165.00) from holding Cheetah Mobile or give up 21.18% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cheetah Mobile vs. ZW Data Action
Performance |
| Timeline |
| Cheetah Mobile |
| ZW Data Action |
Cheetah Mobile and ZW Data Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cheetah Mobile and ZW Data
The main advantage of trading using opposite Cheetah Mobile and ZW Data positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cheetah Mobile position performs unexpectedly, ZW Data 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 ZW Data will offset losses from the drop in ZW Data's long position.| Cheetah Mobile vs. Onfolio Holdings | Cheetah Mobile vs. MoneyHero Limited Class | Cheetah Mobile vs. ZW Data Action | Cheetah Mobile vs. Super League Enterprise |
| ZW Data vs. Able View Global | ZW Data vs. Inuvo Inc | ZW Data vs. Fluent Inc | ZW Data vs. Reading International |
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 Fundamentals Comparison module to compare fundamentals across multiple equities to find investing opportunities.
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