Correlation Between Yunnan Xiyi and Cultural Investment
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By analyzing existing cross correlation between Yunnan Xiyi Industrial and Cultural Investment Holdings, you can compare the effects of market volatilities on Yunnan Xiyi 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 Yunnan Xiyi with a short position of Cultural Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yunnan Xiyi and Cultural Investment.
Diversification Opportunities for Yunnan Xiyi and Cultural Investment
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Yunnan and Cultural is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Yunnan Xiyi Industrial and Cultural Investment Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cultural Investment 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 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 Yunnan Xiyi i.e., Yunnan Xiyi and Cultural Investment go up and down completely randomly.
Pair Corralation between Yunnan Xiyi and Cultural Investment
Assuming the 90 days trading horizon Yunnan Xiyi Industrial is expected to generate 1.28 times more return on investment than Cultural Investment. However, Yunnan Xiyi is 1.28 times more volatile than Cultural Investment Holdings. It trades about 0.25 of its potential returns per unit of risk. Cultural Investment Holdings is currently generating about 0.0 per unit of risk. If you would invest 1,110 in Yunnan Xiyi Industrial on September 4, 2024 and sell it today you would earn a total of 268.00 from holding Yunnan Xiyi Industrial or generate 24.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yunnan Xiyi Industrial vs. Cultural Investment Holdings
Performance |
| Timeline |
| Yunnan Xiyi Industrial |
| Cultural Investment |
Yunnan Xiyi and Cultural Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yunnan Xiyi and Cultural Investment
The main advantage of trading using opposite Yunnan Xiyi and Cultural Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yunnan Xiyi 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.| Yunnan Xiyi vs. Cultural Investment Holdings | Yunnan Xiyi vs. Gome Telecom Equipment | Yunnan Xiyi vs. Bus Online Co | Yunnan Xiyi vs. Holitech Technology Co |
| Cultural Investment vs. China State Construction | Cultural Investment vs. Poly Real Estate | Cultural Investment vs. China Vanke Co | Cultural Investment vs. China Merchants Shekou |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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