A comparison between 
TSLA and 
NIO
Trader point of view:
Tesla and NIO have a significant positive correlation, which means they will go in the same direction, no matter high or low, they go together!
NIO/Tesla price ratio YTD:
How you can benefit from this?
When NIO/Tesla reaches 0.08, sell NIO, and when it is near 0.05 Buy NIO
If you are a trader and love to work on volatility, Buyin and Shorting NIO will always be better than Tesla!
Investor point of view:
If you are an investor, investing in tesla would be a better option for you because of lower volatility and better performance! however, I recommend investing in neither Tesla nor NIO.
Because:
They both have experienced a decrease in trading volume in 2021, and made lower high patterns in weekly charts:
TSLA and NIOTrader point of view:
Tesla and NIO have a significant positive correlation, which means they will go in the same direction, no matter high or low, they go together!
NIO/Tesla price ratio YTD:
How you can benefit from this?
When NIO/Tesla reaches 0.08, sell NIO, and when it is near 0.05 Buy NIO
If you are a trader and love to work on volatility, Buyin and Shorting NIO will always be better than Tesla!
Investor point of view:
If you are an investor, investing in tesla would be a better option for you because of lower volatility and better performance! however, I recommend investing in neither Tesla nor NIO.
Because:
They both have experienced a decrease in trading volume in 2021, and made lower high patterns in weekly charts:
Note
Another example:Apple vs Microsoft
Note
I use this indicator for correlation: developed by balipour..!tradingview.com/v/AFYOSCoG/
Use the following link to access trading ideas: patreon.com/SniperTraderStocks?utm_medium=unknown&utm_source=join_link&utm_campaign=creatorshare_creator&utm_content=copyLink
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Use the following link to access trading ideas: patreon.com/SniperTraderStocks?utm_medium=unknown&utm_source=join_link&utm_campaign=creatorshare_creator&utm_content=copyLink
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.