Correlation Analysis Between NIO and Kandi Technologies

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

NIO  
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Risk-Adjusted Performance

Over the last 30 days NIO has generated negative risk-adjusted returns adding no value to investors with long positions. Allthough unsteady performance in the last few months, the Stock's forward indicators remain quite persistent which may send shares a bit higher in November 2019. The existing mess may also be a sign of long standing up-swing for the corporation partners.
Kandi Technologies  
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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.

NIO and Kandi Technologies Volatility Contrast

 Predicted Return Density 
      Returns 

NIO Inc  vs.  Kandi Technologies Group Inc

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, NIO is expected to under-perform the Kandi Technologies. In addition to that, NIO is 3.91 times more volatile than Kandi Technologies Group. It trades about -0.07 of its total potential returns per unit of risk. Kandi Technologies Group is currently generating about -0.02 per unit of volatility. If you would invest  553.00  in Kandi Technologies Group on September 21, 2019 and sell it today you would lose (25.00)  from holding Kandi Technologies Group or give up 4.52% of portfolio value over 30 days.

Pair Corralation between NIO and Kandi Technologies

0.54
Time Period3 Months [change]
DirectionPositive 
StrengthWeak
Accuracy85.53%
ValuesDaily Returns

Diversification Opportunities for NIO and Kandi Technologies

NIO Inc diversification synergy

Very weak diversification

Overlapping area represents the amount of risk that can be diversified away by holding NIO Inc 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 NIO 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 NIO 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 NIO i.e. NIO and Kandi Technologies go up and down completely randomly.
See also your portfolio center. Please also try Instant Ratings module to determine any equity ratings based on digital recommendations. macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.


 
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