Wing Yip Correlations

WYHG Stock

7.65 0.49 6.02%

The current 90-days correlation between Wing Yip Food and Zijin Mining Group is -0.14 (i.e., Good diversification). The correlation of Wing Yip is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Wing Yip Correlation With Market

Good diversification

The correlation between Wing Yip Food and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Wing Yip Food and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Wing Yip Food. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving against Wing Stock

0.71	JVA	Coffee Holding	Pair Corr
0.64	BON	Bon Natural Life	Pair Corr
0.53	CENTA	Central Garden Pet Earnings Call This Week	Pair Corr
0.48	HRL	Hormel Foods	Pair Corr
0.46	KLG	WK Kellogg	Pair Corr
0.4	K	Kellanova Earnings Call This Week	Pair Corr
0.67	SENEA	Seneca Foods Corp Earnings Call This Week	Pair Corr
0.48	POST	Post Holdings	Pair Corr
0.43	SMPL	Simply Good Foods	Pair Corr
0.39	ABVEW	Above Food Ingredients	Pair Corr
0.37	ABVE	Above Food Ingredients Symbol Change	Pair Corr
0.35	PAVS	Paranovus Entertainment	Pair Corr
0.34	AMNF	Armanino Foods New	Pair Corr
0.33	LFVN	Lifevantage Downward Rally	Pair Corr
0.33	NATR	Natures Sunshine Products Downward Rally	Pair Corr

Related Correlations Analysis

	IPXXU	LAC	KUYAF	ZIJMF	HIHO	PAL	SUM
IPXXU		-0.78	-0.66	-0.43	0.08	0.0	0.57	IPXXU
LAC	-0.78		0.71	0.6	-0.28	0.09	-0.5	LAC
KUYAF	-0.66	0.71		0.82	-0.01	-0.16	-0.81	KUYAF
ZIJMF	-0.43	0.6	0.82		-0.06	-0.14	-0.7	ZIJMF
HIHO	0.08	-0.28	-0.01	-0.06		-0.15	-0.32	HIHO
PAL	0.0	0.09	-0.16	-0.14	-0.15		0.48	PAL
SUM	0.57	-0.5	-0.81	-0.7	-0.32	0.48		SUM
	IPXXU	LAC	KUYAF	ZIJMF	HIHO	PAL	SUM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

ZIJMF	+ 0.82	KUYAF
KUYAF	+ 0.71	LAC
ZIJMF	+ 0.6	LAC
SUM	+ 0.57	IPXXU
SUM	+ 0.48	PAL
PAL	+ 0.09	LAC

High negative correlations

SUM	- 0.81	KUYAF
LAC	- 0.78	IPXXU
SUM	- 0.7	ZIJMF
KUYAF	- 0.66	IPXXU
SUM	- 0.5	LAC
ZIJMF	- 0.43	IPXXU

Risk-Adjusted Indicators

There is a big difference between Wing Stock performing well and Wing Yip Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Wing Yip's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
IPXXU	1.87	0.44	0.06	2.26	2.00	(6.04)	5.11	(5.99)	31.67
LAC	3.30	(0.19)	0.00	(0.12)	0.00	0.00	7.91	(6.39)	21.37
KUYAF	2.80	(0.34)	0.00	(1.60)	0.00	0.00	5.88	(5.56)	24.16
ZIJMF	2.26	(0.24)	0.00	(0.21)	0.00	0.00	6.38	(6.19)	16.52
HIHO	1.36	(0.29)	0.00	3.20	0.00	0.00	2.65	(2.97)	12.61
PAL	2.43	0.21	0.06	0.43	3.04	(2.57)	4.98	(4.62)	16.71
SUM	0.94	0.39	0.31	9.77	0.15	(1.02)	4.18	(1.76)	9.88

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