Correlation Between Eshallgo and Moving IMage
Can any of the company-specific risk be diversified away by investing in both Eshallgo and Moving IMage 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 Eshallgo and Moving IMage into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Eshallgo Class A and Moving iMage Technologies, you can compare the effects of market volatilities on Eshallgo and Moving IMage 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 Eshallgo with a short position of Moving IMage. Check out your portfolio center. Please also check ongoing floating volatility patterns of Eshallgo and Moving IMage.
Diversification Opportunities for Eshallgo and Moving IMage
-0.5 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Eshallgo and Moving is -0.5. Overlapping area represents the amount of risk that can be diversified away by holding Eshallgo Class A and Moving iMage Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Moving iMage Technologies and Eshallgo 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 Eshallgo Class A are associated (or correlated) with Moving IMage. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Moving iMage Technologies has no effect on the direction of Eshallgo i.e., Eshallgo and Moving IMage go up and down completely randomly.
Pair Corralation between Eshallgo and Moving IMage
Given the investment horizon of 90 days Eshallgo Class A is expected to under-perform the Moving IMage. But the stock apears to be less risky and, when comparing its historical volatility, Eshallgo Class A is 1.38 times less risky than Moving IMage. The stock trades about -0.08 of its potential returns per unit of risk. The Moving iMage Technologies is currently generating about 0.05 of returns per unit of risk over similar time horizon. If you would invest 77.00 in Moving iMage Technologies on July 20, 2025 and sell it today you would earn a total of 5.00 from holding Moving iMage Technologies or generate 6.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Eshallgo Class A vs. Moving iMage Technologies
Performance |
| Timeline |
| Eshallgo Class A |
| Moving iMage Technologies |
Eshallgo and Moving IMage Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Eshallgo and Moving IMage
The main advantage of trading using opposite Eshallgo and Moving IMage positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Eshallgo position performs unexpectedly, Moving IMage 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 Moving IMage will offset losses from the drop in Moving IMage's long position.| Eshallgo vs. Guardforce AI Co | Eshallgo vs. Jayud Global Logistics | Eshallgo vs. Momentus | Eshallgo vs. Nauticus Robotics |
| Moving IMage vs. iOThree Limited Ordinary | Moving IMage vs. FiEE, Inc | Moving IMage vs. ClearOne | Moving IMage vs. Infobird Co |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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