Correlation Between MoneyLion and Aurora Mobile

Specify exactly 2 symbols:
Can any of the company-specific risk be diversified away by investing in both MoneyLion and Aurora Mobile at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining MoneyLion and Aurora Mobile into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between MoneyLion and Aurora Mobile, you can compare the effects of market volatilities on MoneyLion and Aurora Mobile 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 MoneyLion with a short position of Aurora Mobile. Check out your portfolio center. Please also check ongoing floating volatility patterns of MoneyLion and Aurora Mobile.

Diversification Opportunities for MoneyLion and Aurora Mobile

-0.13
  Correlation Coefficient

Good diversification

The 3 months correlation between MoneyLion and Aurora is -0.13. Overlapping area represents the amount of risk that can be diversified away by holding MoneyLion and Aurora Mobile in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Aurora Mobile and MoneyLion 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 MoneyLion are associated (or correlated) with Aurora Mobile. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Aurora Mobile has no effect on the direction of MoneyLion i.e., MoneyLion and Aurora Mobile go up and down completely randomly.

Pair Corralation between MoneyLion and Aurora Mobile

Allowing for the 90-day total investment horizon MoneyLion is expected to generate 1.45 times more return on investment than Aurora Mobile. However, MoneyLion is 1.45 times more volatile than Aurora Mobile. It trades about 0.04 of its potential returns per unit of risk. Aurora Mobile is currently generating about -0.05 per unit of risk. If you would invest  6,390  in MoneyLion on December 29, 2023 and sell it today you would earn a total of  742.00  from holding MoneyLion or generate 11.61% return on investment over 90 days.
Time Period3 Months [change]
DirectionMoves Against 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

MoneyLion  vs.  Aurora Mobile

 Performance 
       Timeline  
MoneyLion 

Risk-Adjusted Performance

4 of 100

 
Low
 
High
Insignificant
Compared to the overall equity markets, risk-adjusted returns on investments in MoneyLion are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. Despite quite uncertain essential indicators, MoneyLion disclosed solid returns over the last few months and may actually be approaching a breakup point.
Aurora Mobile 

Risk-Adjusted Performance

6 of 100

 
Low
 
High
Modest
Compared to the overall equity markets, risk-adjusted returns on investments in Aurora Mobile are ranked lower than 6 (%) of all global equities and portfolios over the last 90 days. Despite nearly uncertain technical and fundamental indicators, Aurora Mobile reported solid returns over the last few months and may actually be approaching a breakup point.

MoneyLion and Aurora Mobile Volatility Contrast

   Predicted Return Density   
       Returns  

Pair Trading with MoneyLion and Aurora Mobile

The main advantage of trading using opposite MoneyLion and Aurora Mobile positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MoneyLion position performs unexpectedly, Aurora Mobile can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Aurora Mobile will offset losses from the drop in Aurora Mobile's long position.
The idea behind MoneyLion and Aurora Mobile pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
Check out your portfolio center.
Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.

Other Complementary Tools

Investing Opportunities
Build portfolios using our predefined set of ideas and optimize them against your investing preferences
Companies Directory
Evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals
Instant Ratings
Determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance
Funds Screener
Find actively-traded funds from around the world traded on over 30 global exchanges
Stock Screener
Find equities using a custom stock filter or screen asymmetry in trading patterns, price, volume, or investment outlook.
Price Ceiling Movement
Calculate and plot Price Ceiling Movement for different equity instruments
Portfolio Comparator
Compare the composition, asset allocations and performance of any two portfolios in your account
AI Investment Finder
Use AI to screen and filter profitable investment opportunities
ETFs
Find actively traded Exchange Traded Funds (ETF) from around the world
Bollinger Bands
Use Bollinger Bands indicator to analyze target price for a given investing horizon
Bond Analysis
Evaluate and analyze corporate bonds as a potential investment for your portfolios.
Fundamental Analysis
View fundamental data based on most recent published financial statements