Correlation Between MOGU and EVgo Equity

Can any of the company-specific risk be diversified away by investing in both MOGU and EVgo Equity 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 MOGU and EVgo Equity into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between MOGU Inc and EVgo Equity Warrants, you can compare the effects of market volatilities on MOGU and EVgo Equity 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 MOGU with a short position of EVgo Equity. Check out your portfolio center. Please also check ongoing floating volatility patterns of MOGU and EVgo Equity.

Diversification Opportunities for MOGU and EVgo Equity

0.35

Correlation Coefficient

MOGU  EVgo Equity

Weak diversification

The 3 months correlation between MOGU and EVgo is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding MOGU Inc and EVgo Equity Warrants in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on EVgo Equity Warrants and MOGU 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 MOGU Inc are associated (or correlated) with EVgo Equity. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of EVgo Equity Warrants has no effect on the direction of MOGU i.e., MOGU and EVgo Equity go up and down completely randomly.

Pair Corralation between MOGU and EVgo Equity

Given the investment horizon of 90 days MOGU Inc is expected to generate 1.89 times more return on investment than EVgo Equity. However, MOGU is 1.89 times more volatile than EVgo Equity Warrants. It trades about 0.06 of its potential returns per unit of risk. EVgo Equity Warrants is currently generating about -0.08 per unit of risk. If you would invest  219.00  in MOGU Inc on August 26, 2025 and sell it today you would earn a total of  36.00  from holding MOGU Inc or generate 16.44% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Together
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

MOGU Inc  vs.  EVgo Equity Warrants

MOGU Inc

Risk-Adjusted Performance

Soft

Compared to the overall equity markets, risk-adjusted returns on investments in MOGU Inc are ranked lower than 4 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively weak technical and fundamental indicators, MOGU unveiled solid returns over the last few months and may actually be approaching a breakup point.

EVgo Equity Warrants

Risk-Adjusted Performance

Weakest

Over the last 90 days EVgo Equity Warrants has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of weak performance in the last few months, the Stock's basic indicators remain fairly stable which may send shares a bit higher in December 2025. The latest fuss may also be a sign of long-term up-swing for the venture sophisticated investors.

Pair Trading with MOGU and EVgo Equity

The main advantage of trading using opposite MOGU and EVgo Equity positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MOGU position performs unexpectedly, EVgo Equity 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 EVgo Equity will offset losses from the drop in EVgo Equity's long position.

The idea behind MOGU Inc and EVgo Equity Warrants 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.

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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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..