Correlation Between Yantai Changyu and China Life
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By analyzing existing cross correlation between Yantai Changyu Pioneer and China Life Insurance, you can compare the effects of market volatilities on Yantai Changyu and China Life 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 Changyu with a short position of China Life. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yantai Changyu and China Life.
Diversification Opportunities for Yantai Changyu and China Life
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Yantai and China is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Yantai Changyu Pioneer and China Life Insurance in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Life Insurance and Yantai Changyu 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 Changyu Pioneer are associated (or correlated) with China Life. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Life Insurance has no effect on the direction of Yantai Changyu i.e., Yantai Changyu and China Life go up and down completely randomly.
Pair Corralation between Yantai Changyu and China Life
If you would invest (100.00) in Yantai Changyu Pioneer on October 20, 2024 and sell it today you would earn a total of 100.00 from holding Yantai Changyu Pioneer or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Yantai Changyu Pioneer vs. China Life Insurance
Performance |
| Timeline |
| Yantai Changyu Pioneer |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| China Life Insurance |
Yantai Changyu and China Life Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yantai Changyu and China Life
The main advantage of trading using opposite Yantai Changyu and China Life positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yantai Changyu position performs unexpectedly, China Life 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 China Life will offset losses from the drop in China Life's long position.| Yantai Changyu vs. Guangdong Marubi Biotechnology | Yantai Changyu vs. Shanghai CEO Environmental | Yantai Changyu vs. Jinhe Biotechnology Co | Yantai Changyu vs. Bloomage Biotechnology Corp |
| China Life vs. Longjian Road Bridge | China Life vs. Peoples Insurance of | China Life vs. Juneyao Airlines | China Life vs. Hunan TV Broadcast |
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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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