Correlation Analysis Between Ford Motor and Kandi Technologies

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

Ford Motor  
00

Risk-Adjusted Performance

Over the last 30 days Ford Motor Company has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of rather sound fundamental drivers, Ford Motor is not utilizing all of its potentials. The ongoing stock price tumult, may contribute to shorter-term losses for the shareholders.
Kandi Technologies  
00

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.

Ford Motor and Kandi Technologies Volatility Contrast

 Predicted Return Density 
      Returns 

Ford Motor Company  vs.  Kandi Technologies Group Inc

 Performance (%) 
      Timeline 

Pair Volatility

Taking into account the 30 trading days horizon, Ford Motor Company is expected to under-perform the Kandi Technologies. But the stock apears to be less risky and, when comparing its historical volatility, Ford Motor Company is 1.74 times less risky than Kandi Technologies. The stock trades about -0.05 of its potential returns per unit of risk. The Kandi Technologies Group is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest  528.00  in Kandi Technologies Group on September 23, 2019 and sell it today you would earn a total of  0.00  from holding Kandi Technologies Group or generate 0.0% return on investment over 30 days.

Pair Corralation between Ford Motor and Kandi Technologies

0.76
Time Period3 Months [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification Opportunities for Ford Motor and Kandi Technologies

Ford Motor Company diversification synergy

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding Ford Motor Company 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 Ford Motor 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 Ford Motor Company 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 Ford Motor i.e. Ford Motor and Kandi Technologies go up and down completely randomly.
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