Correlation Between Integrated Electronic and Yes Optoelectronics
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By analyzing existing cross correlation between Integrated Electronic Systems and Yes Optoelectronics Co, you can compare the effects of market volatilities on Integrated Electronic and Yes Optoelectronics 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 Integrated Electronic with a short position of Yes Optoelectronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Integrated Electronic and Yes Optoelectronics.
Diversification Opportunities for Integrated Electronic and Yes Optoelectronics
0.31 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Integrated and Yes is 0.31. Overlapping area represents the amount of risk that can be diversified away by holding Integrated Electronic Systems and Yes Optoelectronics Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yes Optoelectronics and Integrated Electronic 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 Integrated Electronic Systems are associated (or correlated) with Yes Optoelectronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yes Optoelectronics has no effect on the direction of Integrated Electronic i.e., Integrated Electronic and Yes Optoelectronics go up and down completely randomly.
Pair Corralation between Integrated Electronic and Yes Optoelectronics
Assuming the 90 days trading horizon Integrated Electronic Systems is expected to generate 1.01 times more return on investment than Yes Optoelectronics. However, Integrated Electronic is 1.01 times more volatile than Yes Optoelectronics Co. It trades about -0.15 of its potential returns per unit of risk. Yes Optoelectronics Co is currently generating about -0.23 per unit of risk. If you would invest 782.00 in Integrated Electronic Systems on October 14, 2024 and sell it today you would lose (142.00) from holding Integrated Electronic Systems or give up 18.16% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Integrated Electronic Systems vs. Yes Optoelectronics Co
Performance |
| Timeline |
| Integrated Electronic |
| Yes Optoelectronics |
Integrated Electronic and Yes Optoelectronics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Integrated Electronic and Yes Optoelectronics
The main advantage of trading using opposite Integrated Electronic and Yes Optoelectronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Integrated Electronic position performs unexpectedly, Yes Optoelectronics 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 Yes Optoelectronics will offset losses from the drop in Yes Optoelectronics' long position.| Integrated Electronic vs. Wuhan Yangtze Communication | Integrated Electronic vs. Dr Peng Telecom | Integrated Electronic vs. Beijing Kingsoft Office | Integrated Electronic vs. Eastern Communications Co |
| Yes Optoelectronics vs. Sihui Fuji Electronics | Yes Optoelectronics vs. Shengda Mining Co | Yes Optoelectronics vs. Hainan Mining Co | Yes Optoelectronics vs. Integrated Electronic Systems |
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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