Correlation Between Yantai Moon and Cultural Investment
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By analyzing existing cross correlation between Yantai Moon Co and Cultural Investment Holdings, you can compare the effects of market volatilities on Yantai Moon and Cultural 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 Yantai Moon with a short position of Cultural Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yantai Moon and Cultural Investment.
Diversification Opportunities for Yantai Moon and Cultural Investment
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Yantai and Cultural is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Yantai Moon Co and Cultural Investment Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cultural Investment and Yantai Moon 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 Yantai Moon Co are associated (or correlated) with Cultural Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cultural Investment has no effect on the direction of Yantai Moon i.e., Yantai Moon and Cultural Investment go up and down completely randomly.
Pair Corralation between Yantai Moon and Cultural Investment
Assuming the 90 days trading horizon Yantai Moon Co is expected to generate 1.06 times more return on investment than Cultural Investment. However, Yantai Moon is 1.06 times more volatile than Cultural Investment Holdings. It trades about 0.19 of its potential returns per unit of risk. Cultural Investment Holdings is currently generating about 0.13 per unit of risk. If you would invest 804.00 in Yantai Moon Co on September 12, 2024 and sell it today you would earn a total of 300.00 from holding Yantai Moon Co or generate 37.31% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yantai Moon Co vs. Cultural Investment Holdings
Performance |
| Timeline |
| Yantai Moon |
| Cultural Investment |
Yantai Moon and Cultural Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yantai Moon and Cultural Investment
The main advantage of trading using opposite Yantai Moon and Cultural Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yantai Moon position performs unexpectedly, Cultural 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 Cultural Investment will offset losses from the drop in Cultural Investment's long position.| Yantai Moon vs. Peoples Insurance of | Yantai Moon vs. Lonkey Industrial Co | Yantai Moon vs. Guangzhou Dongfang Hotel | Yantai Moon vs. Hengli Industrial Development |
| Cultural Investment vs. Kweichow Moutai Co | Cultural Investment vs. Shenzhen Mindray Bio Medical | Cultural Investment vs. G bits Network Technology | Cultural Investment vs. Beijing Roborock Technology |
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 Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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