Correlation Analysis Between Aurora Mobile and IPC

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

Comparative Performance

 Predicted Return Density 
      Returns 

Aurora Mobile Limited  vs.  IPC

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, Aurora Mobile Limited is expected to under-perform the IPC. In addition to that, Aurora Mobile is 4.12 times more volatile than IPC. It trades about -0.12 of its total potential returns per unit of risk. IPC is currently generating about 0.0 per unit of volatility. If you would invest  4,374,372  in IPC on August 23, 2019 and sell it today you would lose (18,427)  from holding IPC or give up 0.42% of portfolio value over 30 days.

Pair Corralation between Aurora Mobile and IPC

0.06
Time Period3 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Aurora Mobile and IPC

Aurora Mobile Limited diversification synergy

Significant diversification

Overlapping area represents the amount of risk that can be diversified away by holding Aurora Mobile Limited and IPC in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on IPC and Aurora Mobile 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 Aurora Mobile Limited are associated (or correlated) with IPC. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of IPC has no effect on the direction of Aurora Mobile i.e. Aurora Mobile and IPC go up and down completely randomly.
    Optimize
See also your portfolio center. Please also try Transaction History module to view history of all your transactions and understand their impact on performance.


 
Search macroaxis.com