Correlation Between Cyngn and Webus International
Can any of the company-specific risk be diversified away by investing in both Cyngn and Webus International 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 Cyngn and Webus International into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Cyngn Inc and Webus International Limited, you can compare the effects of market volatilities on Cyngn and Webus International 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 Cyngn with a short position of Webus International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cyngn and Webus International.
Diversification Opportunities for Cyngn and Webus International
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Cyngn and Webus is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding Cyngn Inc and Webus International Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Webus International and Cyngn 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 Cyngn Inc are associated (or correlated) with Webus International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Webus International has no effect on the direction of Cyngn i.e., Cyngn and Webus International go up and down completely randomly.
Pair Corralation between Cyngn and Webus International
Considering the 90-day investment horizon Cyngn Inc is expected to generate 0.82 times more return on investment than Webus International. However, Cyngn Inc is 1.21 times less risky than Webus International. It trades about -0.15 of its potential returns per unit of risk. Webus International Limited is currently generating about -0.13 per unit of risk. If you would invest 646.00 in Cyngn Inc on August 13, 2025 and sell it today you would lose (255.00) from holding Cyngn Inc or give up 39.47% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cyngn Inc vs. Webus International Limited
Performance |
| Timeline |
| Cyngn Inc |
| Webus International |
Cyngn and Webus International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cyngn and Webus International
The main advantage of trading using opposite Cyngn and Webus International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cyngn position performs unexpectedly, Webus International 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 Webus International will offset losses from the drop in Webus International's long position.| Cyngn vs. Swvl Holdings Corp | Cyngn vs. Creative Realities | Cyngn vs. SIMPPLE LTD Ordinary | Cyngn vs. Blackboxstocks |
| Webus International vs. Creative Realities | Webus International vs. SIMPPLE LTD Ordinary | Webus International vs. Blackboxstocks | Webus International vs. Swvl Holdings 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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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