Correlation Between HaiXin Foods and Yankershop Food
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By analyzing existing cross correlation between HaiXin Foods Co and Yankershop Food Co, you can compare the effects of market volatilities on HaiXin Foods 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 HaiXin Foods with a short position of Yankershop Food. Check out your portfolio center. Please also check ongoing floating volatility patterns of HaiXin Foods and Yankershop Food.
Diversification Opportunities for HaiXin Foods and Yankershop Food
0.12 | Correlation Coefficient |
Average diversification
The 3 months correlation between HaiXin and Yankershop is 0.12. Overlapping area represents the amount of risk that can be diversified away by holding HaiXin Foods Co and Yankershop Food Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yankershop Food and HaiXin Foods 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 HaiXin Foods Co 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 HaiXin Foods i.e., HaiXin Foods and Yankershop Food go up and down completely randomly.
Pair Corralation between HaiXin Foods and Yankershop Food
Assuming the 90 days trading horizon HaiXin Foods is expected to generate 2.34 times less return on investment than Yankershop Food. In addition to that, HaiXin Foods is 1.08 times more volatile than Yankershop Food Co. It trades about 0.12 of its total potential returns per unit of risk. Yankershop Food Co is currently generating about 0.31 per unit of volatility. If you would invest 5,073 in Yankershop Food Co on December 1, 2024 and sell it today you would earn a total of 622.00 from holding Yankershop Food Co or generate 12.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
HaiXin Foods Co vs. Yankershop Food Co
Performance |
| Timeline |
| HaiXin Foods |
| Yankershop Food |
HaiXin Foods and Yankershop Food Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HaiXin Foods and Yankershop Food
The main advantage of trading using opposite HaiXin Foods and Yankershop Food positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HaiXin Foods 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.| HaiXin Foods vs. Shenzhen Centralcon Investment | HaiXin Foods vs. Shenwu Energy Saving | HaiXin Foods vs. Harbin Hatou Investment | HaiXin Foods vs. Hubei Geoway Investment |
| Yankershop Food vs. Soochow Suzhou Industrial | Yankershop Food vs. Sichuan Fulin Transportation | Yankershop Food vs. Suzhou Industrial Park | Yankershop Food vs. Sportsoul Co Ltd |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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