Correlation Between Yuan Longping and Vanfund Urban
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By analyzing existing cross correlation between Yuan Longping High tech and Vanfund Urban Investment, you can compare the effects of market volatilities on Yuan Longping and Vanfund Urban 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 Yuan Longping with a short position of Vanfund Urban. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yuan Longping and Vanfund Urban.
Diversification Opportunities for Yuan Longping and Vanfund Urban
0.91 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Yuan and Vanfund is 0.91. Overlapping area represents the amount of risk that can be diversified away by holding Yuan Longping High tech and Vanfund Urban Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vanfund Urban Investment and Yuan Longping 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 Yuan Longping High tech are associated (or correlated) with Vanfund Urban. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vanfund Urban Investment has no effect on the direction of Yuan Longping i.e., Yuan Longping and Vanfund Urban go up and down completely randomly.
Pair Corralation between Yuan Longping and Vanfund Urban
Assuming the 90 days trading horizon Yuan Longping High tech is expected to under-perform the Vanfund Urban. But the stock apears to be less risky and, when comparing its historical volatility, Yuan Longping High tech is 2.12 times less risky than Vanfund Urban. The stock trades about -0.06 of its potential returns per unit of risk. The Vanfund Urban Investment is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 681.00 in Vanfund Urban Investment on September 2, 2024 and sell it today you would lose (124.00) from holding Vanfund Urban Investment or give up 18.21% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yuan Longping High tech vs. Vanfund Urban Investment
Performance |
| Timeline |
| Yuan Longping High |
| Vanfund Urban Investment |
Yuan Longping and Vanfund Urban Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yuan Longping and Vanfund Urban
The main advantage of trading using opposite Yuan Longping and Vanfund Urban positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yuan Longping position performs unexpectedly, Vanfund Urban 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 Vanfund Urban will offset losses from the drop in Vanfund Urban's long position.| Yuan Longping vs. Ming Yang Smart | Yuan Longping vs. 159681 | Yuan Longping vs. 159005 | Yuan Longping vs. Loctek Ergonomic Technology |
| Vanfund Urban vs. Cultural Investment Holdings | Vanfund Urban vs. Gome Telecom Equipment | Vanfund Urban vs. Bus Online Co | Vanfund Urban vs. Holitech Technology Co |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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