Correlation Between Niu Technologies and NIO

Analyzing existing cross correlation between Niu Technologies and NIO. You can compare the effects of market volatilities on Niu Technologies and NIO 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 Niu Technologies with a short position of NIO. Check out your portfolio center. Please also check ongoing floating volatility patterns of Niu Technologies and NIO.

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Diversification Opportunities for Niu Technologies and NIO

Niu Technologies diversification synergy
<div class='circular--portrait-small' style='background:#8A0CCF;color: white;font-size:1.1em;padding-top: 12px;;'>NIU</div>
<div class='circular--portrait-small' style='background:#0D8ECF;color: white;font-size:1.1em;padding-top: 12px;;'>NIO</div>

Poor diversification

The 3 months correlation between Niu Technologies and NIO is 0.61. Overlapping area represents the amount of risk that can be diversified away by holding Niu Technologies and NIO Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NIO and Niu Technologies 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 Niu Technologies are associated (or correlated) with NIO. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NIO has no effect on the direction of Niu Technologies i.e. Niu Technologies and NIO go up and down completely randomly.

Pair Corralation between Niu Technologies and NIO

Considering 30-days investment horizon, Niu Technologies is expected to generate 58.79 times less return on investment than NIO. But when comparing it to its historical volatility, Niu Technologies is 2.73 times less risky than NIO. It trades about 0.01 of its potential returns per unit of risk. NIO is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest  205.00  in NIO on January 24, 2020 and sell it today you would earn a total of  185.00  from holding NIO or generate 90.24% return on investment over 30 days.
Time Period3 Months [change]
DirectionMoves Together 
ValuesDaily Returns

Niu Technologies  vs.  NIO Inc

 Performance (%) 
Niu Technologies 

Risk-Adjusted Performance

Over the last 30 days Niu Technologies has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively unchanging essential indicators, Niu Technologies is not utilizing all of its potentials. The current stock price uproar, may contribute to short horizon losses for the leadership.

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in NIO are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days. Allthough quite uncertain forward indicators, NIO disclosed solid returns over the last few months and may actually be approaching a breakup point.

Niu Technologies and NIO Volatility Contrast

 Predicted Return Density 
Check out your portfolio center. Please also try Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.