Correlation Between Integrated Electronic and YiDong Electronics
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By analyzing existing cross correlation between Integrated Electronic Systems and YiDong Electronics Technology, you can compare the effects of market volatilities on Integrated Electronic and YiDong Electronics 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 YiDong Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Integrated Electronic and YiDong Electronics.
Diversification Opportunities for Integrated Electronic and YiDong Electronics
-0.34 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Integrated and YiDong is -0.34. Overlapping area represents the amount of risk that can be diversified away by holding Integrated Electronic Systems and YiDong Electronics Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on YiDong Electronics 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 YiDong Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of YiDong Electronics has no effect on the direction of Integrated Electronic i.e., Integrated Electronic and YiDong Electronics go up and down completely randomly.
Pair Corralation between Integrated Electronic and YiDong Electronics
Assuming the 90 days trading horizon Integrated Electronic Systems is expected to under-perform the YiDong Electronics. But the stock apears to be less risky and, when comparing its historical volatility, Integrated Electronic Systems is 1.19 times less risky than YiDong Electronics. The stock trades about -0.01 of its potential returns per unit of risk. The YiDong Electronics Technology is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 2,436 in YiDong Electronics Technology on November 6, 2024 and sell it today you would lose (291.00) from holding YiDong Electronics Technology or give up 11.95% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Integrated Electronic Systems vs. YiDong Electronics Technology
Performance |
| Timeline |
| Integrated Electronic |
| YiDong Electronics |
Integrated Electronic and YiDong Electronics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Integrated Electronic and YiDong Electronics
The main advantage of trading using opposite Integrated Electronic and YiDong Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Integrated Electronic position performs unexpectedly, YiDong Electronics 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 YiDong Electronics will offset losses from the drop in YiDong Electronics' long position.| Integrated Electronic vs. CIMC Vehicles Co | Integrated Electronic vs. Postal Savings Bank | Integrated Electronic vs. Luyin Investment Group | Integrated Electronic vs. Guangzhou Automobile Group |
| YiDong Electronics vs. Senci Electric Machinery | YiDong Electronics vs. Hainan Haiqi Transportation | YiDong Electronics vs. Lutian Machinery Co | YiDong Electronics vs. Hangzhou Zhongya Machinery |
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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