Correlation Analysis Between Aurora Mobile and NASDAQ UK

This module allows you to analyze existing cross correlation between Aurora Mobile Limited and NASDAQ UK. You can compare the effects of market volatilities on Aurora Mobile and NASDAQ UK 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 NASDAQ UK. See also your portfolio center. Please also check ongoing floating volatility patterns of Aurora Mobile and NASDAQ UK.
Horizon     30 Days    Login   to change
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Comparative Performance

 Predicted Return Density 

Aurora Mobile Limited  vs.  NASDAQ UK

 Performance (%) 

Pair Volatility

Allowing for the 30-days total investment horizon, Aurora Mobile Limited is expected to under-perform the NASDAQ UK. In addition to that, Aurora Mobile is 3.85 times more volatile than NASDAQ UK. It trades about -0.14 of its total potential returns per unit of risk. NASDAQ UK is currently generating about 0.39 per unit of volatility. If you would invest  96,412  in NASDAQ UK on August 21, 2019 and sell it today you would earn a total of  3,898  from holding NASDAQ UK or generate 4.04% return on investment over 30 days.

Pair Corralation between Aurora Mobile and NASDAQ UK

Time Period3 Months [change]
StrengthVery Weak
ValuesDaily Returns

Diversification Opportunities for Aurora Mobile and NASDAQ UK

Aurora Mobile Limited diversification synergy

Weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding Aurora Mobile Limited and NASDAQ UK in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on NASDAQ UK 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 NASDAQ UK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of NASDAQ UK has no effect on the direction of Aurora Mobile i.e. Aurora Mobile and NASDAQ UK go up and down completely randomly.
See also your portfolio center. Please also try Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.