Correlation Between Muyuan Foodstuff and Peoples Insurance
Specify exactly 2 symbols:
By analyzing existing cross correlation between Muyuan Foodstuff Co and Peoples Insurance of, you can compare the effects of market volatilities on Muyuan Foodstuff and Peoples Insurance 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 Muyuan Foodstuff with a short position of Peoples Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Muyuan Foodstuff and Peoples Insurance.
Diversification Opportunities for Muyuan Foodstuff and Peoples Insurance
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Muyuan and Peoples is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Muyuan Foodstuff Co and Peoples Insurance of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Peoples Insurance and Muyuan Foodstuff 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 Muyuan Foodstuff Co are associated (or correlated) with Peoples Insurance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Peoples Insurance has no effect on the direction of Muyuan Foodstuff i.e., Muyuan Foodstuff and Peoples Insurance go up and down completely randomly.
Pair Corralation between Muyuan Foodstuff and Peoples Insurance
Assuming the 90 days trading horizon Muyuan Foodstuff Co is expected to generate 0.57 times more return on investment than Peoples Insurance. However, Muyuan Foodstuff Co is 1.77 times less risky than Peoples Insurance. It trades about -0.41 of its potential returns per unit of risk. Peoples Insurance of is currently generating about -0.28 per unit of risk. If you would invest 3,948 in Muyuan Foodstuff Co on October 14, 2024 and sell it today you would lose (328.00) from holding Muyuan Foodstuff Co or give up 8.31% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Muyuan Foodstuff Co vs. Peoples Insurance of
Performance |
| Timeline |
| Muyuan Foodstuff |
| Peoples Insurance |
Muyuan Foodstuff and Peoples Insurance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Muyuan Foodstuff and Peoples Insurance
The main advantage of trading using opposite Muyuan Foodstuff and Peoples Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Muyuan Foodstuff position performs unexpectedly, Peoples Insurance 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 Peoples Insurance will offset losses from the drop in Peoples Insurance's long position.| Muyuan Foodstuff vs. Guangdong Wens Foodstuff | Muyuan Foodstuff vs. Miracll Chemicals Co | Muyuan Foodstuff vs. HaiXin Foods Co | Muyuan Foodstuff vs. Gan Yuan Foods |
| Peoples Insurance vs. Western Metal Materials | Peoples Insurance vs. Thinkon Semiconductor Jinzhou | Peoples Insurance vs. Nexchip Semiconductor Corp | Peoples Insurance vs. Union Semiconductor Co |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
Other Complementary Tools
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world | |
| Portfolio Dashboard Portfolio dashboard that provides centralized access to all your investments | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device |