Correlation Between Yunnan Xiyi and Anhui Deli
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By analyzing existing cross correlation between Yunnan Xiyi Industrial and Anhui Deli Household, you can compare the effects of market volatilities on Yunnan Xiyi and Anhui Deli 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 Yunnan Xiyi with a short position of Anhui Deli. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yunnan Xiyi and Anhui Deli.
Diversification Opportunities for Yunnan Xiyi and Anhui Deli
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Yunnan and Anhui is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Yunnan Xiyi Industrial and Anhui Deli Household in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anhui Deli Household and Yunnan Xiyi 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 Yunnan Xiyi Industrial are associated (or correlated) with Anhui Deli. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anhui Deli Household has no effect on the direction of Yunnan Xiyi i.e., Yunnan Xiyi and Anhui Deli go up and down completely randomly.
Pair Corralation between Yunnan Xiyi and Anhui Deli
Assuming the 90 days trading horizon Yunnan Xiyi Industrial is expected to generate 0.84 times more return on investment than Anhui Deli. However, Yunnan Xiyi Industrial is 1.19 times less risky than Anhui Deli. It trades about 0.04 of its potential returns per unit of risk. Anhui Deli Household is currently generating about -0.01 per unit of risk. If you would invest 1,126 in Yunnan Xiyi Industrial on September 4, 2024 and sell it today you would earn a total of 252.00 from holding Yunnan Xiyi Industrial or generate 22.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yunnan Xiyi Industrial vs. Anhui Deli Household
Performance |
| Timeline |
| Yunnan Xiyi Industrial |
| Anhui Deli Household |
Yunnan Xiyi and Anhui Deli Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yunnan Xiyi and Anhui Deli
The main advantage of trading using opposite Yunnan Xiyi and Anhui Deli positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yunnan Xiyi position performs unexpectedly, Anhui Deli 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 Anhui Deli will offset losses from the drop in Anhui Deli's long position.| Yunnan Xiyi vs. Cultural Investment Holdings | Yunnan Xiyi vs. Gome Telecom Equipment | Yunnan Xiyi vs. Bus Online Co | Yunnan Xiyi vs. Holitech Technology Co |
| Anhui Deli vs. Shanghai Shuixing Home | Anhui Deli vs. China Sports Industry | Anhui Deli vs. Oppein Home Group | Anhui Deli vs. Hubeiyichang Transportation Group |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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