Correlation Analysis Between GM and Kandi Technologies

This module allows you to analyze existing cross correlation between General Motors Company and Kandi Technologies Group. You can compare the effects of market volatilities on GM and Kandi Technologies 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 GM with a short position of Kandi Technologies. See also your portfolio center. Please also check ongoing floating volatility patterns of GM and Kandi Technologies.
Horizon     30 Days    Login   to change
Symbolsvs
Check Efficiency

Comparative Performance

General Motors  
00

Risk-Adjusted Performance

Over the last 30 days General Motors Company has generated negative risk-adjusted returns adding no value to investors with long positions. Even with latest unsteady performance, the Stock's technical indicators remain steady and the new chaos on Wall Street may also be a sign of medium term gains for the business stakeholders.
Kandi Technologies  
00

Risk-Adjusted Performance

Over the last 30 days Kandi Technologies Group has generated negative risk-adjusted returns adding no value to investors with long positions. Despite nearly stable fundamental indicators, Kandi Technologies is not utilizing all of its potentials. The ongoing stock price disturbance, may contribute to mid-run losses for the stockholder.

GM and Kandi Technologies Volatility Contrast

 Predicted Return Density 
      Returns 

General Motors Company  vs.  Kandi Technologies Group Inc

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, General Motors Company is expected to under-perform the Kandi Technologies. But the stock apears to be less risky and, when comparing its historical volatility, General Motors Company is 1.37 times less risky than Kandi Technologies. The stock trades about -0.07 of its potential returns per unit of risk. The Kandi Technologies Group is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest  532.00  in Kandi Technologies Group on September 20, 2019 and sell it today you would lose (8.00)  from holding Kandi Technologies Group or give up 1.5% of portfolio value over 30 days.

Pair Corralation between GM and Kandi Technologies

0.76
Time Period3 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for GM and Kandi Technologies

General Motors Company diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding General Motors Company and Kandi Technologies Group Inc in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Kandi Technologies and GM 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 General Motors Company are associated (or correlated) with Kandi Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kandi Technologies has no effect on the direction of GM i.e. GM and Kandi Technologies go up and down completely randomly.
See also your portfolio center. Please also try Equity Valuation module to check real value of public entities based on technical and fundamental data.


 
Search macroaxis.com