Correlation Between Yankershop Food and Bus Online
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By analyzing existing cross correlation between Yankershop Food Co and Bus Online Co, you can compare the effects of market volatilities on Yankershop Food and Bus Online 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 Yankershop Food with a short position of Bus Online. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yankershop Food and Bus Online.
Diversification Opportunities for Yankershop Food and Bus Online
-0.3 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Yankershop and Bus is -0.3. Overlapping area represents the amount of risk that can be diversified away by holding Yankershop Food Co and Bus Online Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bus Online and Yankershop Food 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 Yankershop Food Co are associated (or correlated) with Bus Online. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bus Online has no effect on the direction of Yankershop Food i.e., Yankershop Food and Bus Online go up and down completely randomly.
Pair Corralation between Yankershop Food and Bus Online
Assuming the 90 days trading horizon Yankershop Food Co is expected to generate 0.66 times more return on investment than Bus Online. However, Yankershop Food Co is 1.51 times less risky than Bus Online. It trades about 0.07 of its potential returns per unit of risk. Bus Online Co is currently generating about -0.09 per unit of risk. If you would invest 5,704 in Yankershop Food Co on October 11, 2024 and sell it today you would earn a total of 381.00 from holding Yankershop Food Co or generate 6.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yankershop Food Co vs. Bus Online Co
Performance |
| Timeline |
| Yankershop Food |
| Bus Online |
Yankershop Food and Bus Online Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yankershop Food and Bus Online
The main advantage of trading using opposite Yankershop Food and Bus Online positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yankershop Food position performs unexpectedly, Bus Online 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 Bus Online will offset losses from the drop in Bus Online's long position.| Yankershop Food vs. Qingdao Choho Industrial | Yankershop Food vs. Jiangxi Naipu Mining | Yankershop Food vs. Guangdong Jingyi Metal | Yankershop Food vs. Western Metal Materials |
| Bus Online vs. Henan Shuanghui Investment | Bus Online vs. Tieling Newcity Investment | Bus Online vs. Guangdong Jingyi Metal | Bus Online vs. Beijing HuaYuanYiTong Thermal |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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