Correlation Between Zoom Video and Quhuo
Can any of the company-specific risk be diversified away by investing in both Zoom Video and Quhuo 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 Zoom Video and Quhuo into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Zoom Video Communications and Quhuo, you can compare the effects of market volatilities on Zoom Video and Quhuo 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 Zoom Video with a short position of Quhuo. Check out your portfolio center. Please also check ongoing floating volatility patterns of Zoom Video and Quhuo.
Diversification Opportunities for Zoom Video and Quhuo
-0.53 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Zoom and Quhuo is -0.53. Overlapping area represents the amount of risk that can be diversified away by holding Zoom Video Communications and Quhuo in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Quhuo and Zoom Video 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 Zoom Video Communications are associated (or correlated) with Quhuo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Quhuo has no effect on the direction of Zoom Video i.e., Zoom Video and Quhuo go up and down completely randomly.
Pair Corralation between Zoom Video and Quhuo
Allowing for the 90-day total investment horizon Zoom Video Communications is expected to generate 0.14 times more return on investment than Quhuo. However, Zoom Video Communications is 7.37 times less risky than Quhuo. It trades about 0.11 of its potential returns per unit of risk. Quhuo is currently generating about -0.06 per unit of risk. If you would invest 7,314 in Zoom Video Communications on August 15, 2025 and sell it today you would earn a total of 1,145 from holding Zoom Video Communications or generate 15.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Zoom Video Communications vs. Quhuo
Performance |
| Timeline |
| Zoom Video Communications |
| Quhuo |
Zoom Video and Quhuo Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Zoom Video and Quhuo
The main advantage of trading using opposite Zoom Video and Quhuo positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Zoom Video position performs unexpectedly, Quhuo 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 Quhuo will offset losses from the drop in Quhuo's long position.| Zoom Video vs. PTC Inc | Zoom Video vs. HubSpot | Zoom Video vs. SSC Technologies Holdings | Zoom Video vs. Trade Desk |
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 Bonds Directory module to find actively traded corporate debentures issued by US companies.
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