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  
33

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in NIO are ranked lower than 3 (%) of all global equities and portfolios over the last 30 days. Allthough quite unsteady forward indicators, NIO may actually be approaching a critical reversion point that can send shares even higher in October 2019.
Kandi Technologies  
22

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Kandi Technologies Group are ranked lower than 2 (%) of all global equities and portfolios over the last 30 days. Despite nearly unsteady fundamental indicators, Kandi Technologies may actually be approaching a critical reversion point that can send shares even higher in October 2019.

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 generate 1.37 times more return on investment than Kandi Technologies. However, NIO is 1.37 times more volatile than Kandi Technologies Group. It trades about 0.05 of its potential returns per unit of risk. Kandi Technologies Group is currently generating about 0.03 per unit of risk. If you would invest  283.00  in NIO on August 19, 2019 and sell it today you would earn a total of  20.00  from holding NIO or generate 7.07% return on investment over 30 days.

Pair Corralation between NIO and Kandi Technologies

-0.01
Time Period3 Months [change]
DirectionNegative 
StrengthInsignificant
Accuracy98.44%
ValuesDaily Returns

Diversification Opportunities for NIO and Kandi Technologies

NIO Inc diversification synergy

Good 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 Equity Valuation module to check real value of public entities based on technical and fundamental data.


 
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