Correlation Between Vanfund Urban and Luyin Investment
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By analyzing existing cross correlation between Vanfund Urban Investment and Luyin Investment Group, you can compare the effects of market volatilities on Vanfund Urban and Luyin Investment 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 Vanfund Urban with a short position of Luyin Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vanfund Urban and Luyin Investment.
Diversification Opportunities for Vanfund Urban and Luyin Investment
0.87 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Vanfund and Luyin is 0.87. Overlapping area represents the amount of risk that can be diversified away by holding Vanfund Urban Investment and Luyin Investment Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Luyin Investment and Vanfund Urban 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 Vanfund Urban Investment are associated (or correlated) with Luyin Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Luyin Investment has no effect on the direction of Vanfund Urban i.e., Vanfund Urban and Luyin Investment go up and down completely randomly.
Pair Corralation between Vanfund Urban and Luyin Investment
Assuming the 90 days trading horizon Vanfund Urban Investment is expected to under-perform the Luyin Investment. In addition to that, Vanfund Urban is 2.01 times more volatile than Luyin Investment Group. It trades about -0.21 of its total potential returns per unit of risk. Luyin Investment Group is currently generating about -0.28 per unit of volatility. If you would invest 628.00 in Luyin Investment Group on October 20, 2024 and sell it today you would lose (65.00) from holding Luyin Investment Group or give up 10.35% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Vanfund Urban Investment vs. Luyin Investment Group
Performance |
| Timeline |
| Vanfund Urban Investment |
| Luyin Investment |
Vanfund Urban and Luyin Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vanfund Urban and Luyin Investment
The main advantage of trading using opposite Vanfund Urban and Luyin Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vanfund Urban position performs unexpectedly, Luyin Investment 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 Luyin Investment will offset losses from the drop in Luyin Investment's long position.| Vanfund Urban vs. Ming Yang Smart | Vanfund Urban vs. 159681 | Vanfund Urban vs. 159005 | Vanfund Urban vs. Loctek Ergonomic Technology |
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Check out your portfolio center.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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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