Correlation Between Xizi Clean and Yankershop Food
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By analyzing existing cross correlation between Xizi Clean Energy and Yankershop Food Co, you can compare the effects of market volatilities on Xizi Clean and Yankershop Food 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 Xizi Clean with a short position of Yankershop Food. Check out your portfolio center. Please also check ongoing floating volatility patterns of Xizi Clean and Yankershop Food.
Diversification Opportunities for Xizi Clean and Yankershop Food
-0.46 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Xizi and Yankershop is -0.46. Overlapping area represents the amount of risk that can be diversified away by holding Xizi Clean Energy and Yankershop Food Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yankershop Food and Xizi Clean 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 Xizi Clean Energy are associated (or correlated) with Yankershop Food. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yankershop Food has no effect on the direction of Xizi Clean i.e., Xizi Clean and Yankershop Food go up and down completely randomly.
Pair Corralation between Xizi Clean and Yankershop Food
Assuming the 90 days trading horizon Xizi Clean Energy is expected to generate 1.53 times more return on investment than Yankershop Food. However, Xizi Clean is 1.53 times more volatile than Yankershop Food Co. It trades about 0.21 of its potential returns per unit of risk. Yankershop Food Co is currently generating about -0.42 per unit of risk. If you would invest 1,079 in Xizi Clean Energy on November 3, 2024 and sell it today you would earn a total of 146.00 from holding Xizi Clean Energy or generate 13.53% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Xizi Clean Energy vs. Yankershop Food Co
Performance |
| Timeline |
| Xizi Clean Energy |
| Yankershop Food |
Xizi Clean and Yankershop Food Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Xizi Clean and Yankershop Food
The main advantage of trading using opposite Xizi Clean and Yankershop Food positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Xizi Clean position performs unexpectedly, Yankershop Food 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 Yankershop Food will offset losses from the drop in Yankershop Food's long position.| Xizi Clean vs. Agricultural Bank of | Xizi Clean vs. Industrial and Commercial | Xizi Clean vs. Bank of China | Xizi Clean vs. PetroChina Co Ltd |
| Yankershop Food vs. China Longyuan Power | Yankershop Food vs. PetroChina Co Ltd | Yankershop Food vs. Guangxi Guiguan Electric | Yankershop Food vs. Yantai North Andre |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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