Correlation Between Yankershop Food and Der International
Specify exactly 2 symbols:
By analyzing existing cross correlation between Yankershop Food Co and Der International Home, you can compare the effects of market volatilities on Yankershop Food and Der International 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 Der International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yankershop Food and Der International.
Diversification Opportunities for Yankershop Food and Der International
0.85 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Yankershop and Der is 0.85. Overlapping area represents the amount of risk that can be diversified away by holding Yankershop Food Co and Der International Home in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Der International Home 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 Der International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Der International Home has no effect on the direction of Yankershop Food i.e., Yankershop Food and Der International go up and down completely randomly.
Pair Corralation between Yankershop Food and Der International
Assuming the 90 days trading horizon Yankershop Food is expected to generate 3.06 times less return on investment than Der International. But when comparing it to its historical volatility, Yankershop Food Co is 1.25 times less risky than Der International. It trades about 0.07 of its potential returns per unit of risk. Der International Home is currently generating about 0.18 of returns per unit of risk over similar time horizon. 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 |
Yankershop Food Co vs. Der International Home
Performance |
| Timeline |
| Yankershop Food |
| Der International Home |
Yankershop Food and Der International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yankershop Food and Der International
The main advantage of trading using opposite Yankershop Food and Der International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yankershop Food position performs unexpectedly, Der International 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 Der International will offset losses from the drop in Der International's long position.| Yankershop Food vs. Pengxin International Mining | Yankershop Food vs. Hainan Mining Co | Yankershop Food vs. Ye Chiu Metal | Yankershop Food vs. Shandong Mining Machinery |
| 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 |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
Other Complementary Tools
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format |