Correlation Between Wuliangye Yibin and Easyhome New
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By analyzing existing cross correlation between Wuliangye Yibin Co and Easyhome New Retail, you can compare the effects of market volatilities on Wuliangye Yibin and Easyhome New 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 Wuliangye Yibin with a short position of Easyhome New. Check out your portfolio center. Please also check ongoing floating volatility patterns of Wuliangye Yibin and Easyhome New.
Diversification Opportunities for Wuliangye Yibin and Easyhome New
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Wuliangye and Easyhome is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding Wuliangye Yibin Co and Easyhome New Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Easyhome New Retail and Wuliangye Yibin 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 Wuliangye Yibin Co are associated (or correlated) with Easyhome New. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Easyhome New Retail has no effect on the direction of Wuliangye Yibin i.e., Wuliangye Yibin and Easyhome New go up and down completely randomly.
Pair Corralation between Wuliangye Yibin and Easyhome New
Assuming the 90 days trading horizon Wuliangye Yibin Co is expected to under-perform the Easyhome New. But the stock apears to be less risky and, when comparing its historical volatility, Wuliangye Yibin Co is 2.96 times less risky than Easyhome New. The stock trades about -0.13 of its potential returns per unit of risk. The Easyhome New Retail is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest 296.00 in Easyhome New Retail on September 12, 2024 and sell it today you would earn a total of 60.00 from holding Easyhome New Retail or generate 20.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Wuliangye Yibin Co vs. Easyhome New Retail
Performance |
| Timeline |
| Wuliangye Yibin |
| Easyhome New Retail |
Wuliangye Yibin and Easyhome New Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Wuliangye Yibin and Easyhome New
The main advantage of trading using opposite Wuliangye Yibin and Easyhome New positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Wuliangye Yibin position performs unexpectedly, Easyhome New 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 Easyhome New will offset losses from the drop in Easyhome New's long position.| Wuliangye Yibin vs. Dazhong Transportation Group | Wuliangye Yibin vs. Healthcare Co | Wuliangye Yibin vs. Anhui Huaren Health | Wuliangye Yibin vs. Sichuan Fulin Transportation |
| Easyhome New vs. Lutian Machinery Co | Easyhome New vs. PetroChina Co Ltd | Easyhome New vs. Bank of China | Easyhome New vs. Gansu Jiu Steel |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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