Correlation Between Yankershop Food and Guilin Seamild
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By analyzing existing cross correlation between Yankershop Food Co and Guilin Seamild Foods, you can compare the effects of market volatilities on Yankershop Food and Guilin Seamild 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 Guilin Seamild. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yankershop Food and Guilin Seamild.
Diversification Opportunities for Yankershop Food and Guilin Seamild
0.77 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Yankershop and Guilin is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding Yankershop Food Co and Guilin Seamild Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guilin Seamild Foods 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 Guilin Seamild. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guilin Seamild Foods has no effect on the direction of Yankershop Food i.e., Yankershop Food and Guilin Seamild go up and down completely randomly.
Pair Corralation between Yankershop Food and Guilin Seamild
Assuming the 90 days trading horizon Yankershop Food is expected to generate 4.4 times less return on investment than Guilin Seamild. In addition to that, Yankershop Food is 1.09 times more volatile than Guilin Seamild Foods. It trades about 0.06 of its total potential returns per unit of risk. Guilin Seamild Foods is currently generating about 0.27 per unit of volatility. If you would invest 1,281 in Guilin Seamild Foods on September 2, 2024 and sell it today you would earn a total of 175.00 from holding Guilin Seamild Foods or generate 13.66% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yankershop Food Co vs. Guilin Seamild Foods
Performance |
| Timeline |
| Yankershop Food |
| Guilin Seamild Foods |
Yankershop Food and Guilin Seamild Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yankershop Food and Guilin Seamild
The main advantage of trading using opposite Yankershop Food and Guilin Seamild positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yankershop Food position performs unexpectedly, Guilin Seamild 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 Guilin Seamild will offset losses from the drop in Guilin Seamild's long position.| Yankershop Food vs. Guangzhou Boji Medical | Yankershop Food vs. Shenzhen Kexin Communication | Yankershop Food vs. Wuhan Yangtze Communication | Yankershop Food vs. Jilin Jlu Communication |
| Guilin Seamild vs. Nanjing Putian Telecommunications | Guilin Seamild vs. Shenzhen Hifuture Electric | Guilin Seamild vs. Tianjin Realty Development | Guilin Seamild vs. Shenyang Huitian 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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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