Correlation Between ECARX Holdings and Siriuspoint
Can any of the company-specific risk be diversified away by investing in both ECARX Holdings and Siriuspoint 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 ECARX Holdings and Siriuspoint into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ECARX Holdings Class and Siriuspoint, you can compare the effects of market volatilities on ECARX Holdings and Siriuspoint 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 ECARX Holdings with a short position of Siriuspoint. Check out your portfolio center. Please also check ongoing floating volatility patterns of ECARX Holdings and Siriuspoint.
Diversification Opportunities for ECARX Holdings and Siriuspoint
0.06 | Correlation Coefficient |
Significant diversification
The 3 months correlation between ECARX and Siriuspoint is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding ECARX Holdings Class and Siriuspoint in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Siriuspoint and ECARX Holdings 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 ECARX Holdings Class are associated (or correlated) with Siriuspoint. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Siriuspoint has no effect on the direction of ECARX Holdings i.e., ECARX Holdings and Siriuspoint go up and down completely randomly.
Pair Corralation between ECARX Holdings and Siriuspoint
Considering the 90-day investment horizon ECARX Holdings Class is expected to generate 3.36 times more return on investment than Siriuspoint. However, ECARX Holdings is 3.36 times more volatile than Siriuspoint. It trades about 0.02 of its potential returns per unit of risk. Siriuspoint is currently generating about -0.01 per unit of risk. If you would invest 163.00 in ECARX Holdings Class on June 11, 2025 and sell it today you would lose (9.00) from holding ECARX Holdings Class or give up 5.52% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 98.39% |
| Values | Daily Returns |
ECARX Holdings Class vs. Siriuspoint
Performance |
| Timeline |
| ECARX Holdings Class |
| Siriuspoint |
ECARX Holdings and Siriuspoint Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ECARX Holdings and Siriuspoint
The main advantage of trading using opposite ECARX Holdings and Siriuspoint positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ECARX Holdings position performs unexpectedly, Siriuspoint 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 Siriuspoint will offset losses from the drop in Siriuspoint's long position.| ECARX Holdings vs. Bridger Aerospace Group | ECARX Holdings vs. Cardio Diagnostics Holdings | ECARX Holdings vs. Dana Inc | ECARX Holdings vs. ECARX Holdings Warrants |
| Siriuspoint vs. SiriusPoint | Siriuspoint vs. Greenlight Capital Re | Siriuspoint vs. RenaissanceRe Holdings | Siriuspoint vs. Stonex Group |
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 Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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