Correlation Between Der International and Yankershop Food
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By analyzing existing cross correlation between Der International Home and Yankershop Food Co, you can compare the effects of market volatilities on Der International 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 Der International with a short position of Yankershop Food. Check out your portfolio center. Please also check ongoing floating volatility patterns of Der International and Yankershop Food.
Diversification Opportunities for Der International and Yankershop Food
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Der and Yankershop is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Der International Home and Yankershop Food Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yankershop Food and Der International 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 Der International Home 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 Der International i.e., Der International and Yankershop Food go up and down completely randomly.
Pair Corralation between Der International and Yankershop Food
Assuming the 90 days trading horizon Der International Home is expected to generate 1.25 times more return on investment than Yankershop Food. However, Der International is 1.25 times more volatile than Yankershop Food Co. It trades about 0.18 of its potential returns per unit of risk. Yankershop Food Co is currently generating about 0.07 per unit of risk. If you would invest 457.00 in Der International Home on September 1, 2024 and sell it today you would earn a total of 55.00 from holding Der International Home or generate 12.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Der International Home vs. Yankershop Food Co
Performance |
| Timeline |
| Der International Home |
| Yankershop Food |
Der International and Yankershop Food Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Der International and Yankershop Food
The main advantage of trading using opposite Der International and Yankershop Food positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Der International 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.| Der International vs. Cangzhou Mingzhu Plastic | Der International vs. AVIC Fund Management | Der International vs. Super Dragon Engineering Plastics | Der International vs. Guangzhou Tinci Materials |
| Yankershop Food vs. Pengxin International Mining | Yankershop Food vs. Hainan Mining Co | Yankershop Food vs. Ye Chiu Metal | Yankershop Food vs. Shandong Mining 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 AI Portfolio Architect module to use AI to generate optimal portfolios and find profitable investment opportunities.
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