Correlation Between Yankershop Food and AUPU Home
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By analyzing existing cross correlation between Yankershop Food Co and AUPU Home Style, you can compare the effects of market volatilities on Yankershop Food and AUPU Home 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 AUPU Home. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yankershop Food and AUPU Home.
Diversification Opportunities for Yankershop Food and AUPU Home
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between Yankershop and AUPU is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding Yankershop Food Co and AUPU Home Style in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AUPU Home Style 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 AUPU Home. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AUPU Home Style has no effect on the direction of Yankershop Food i.e., Yankershop Food and AUPU Home go up and down completely randomly.
Pair Corralation between Yankershop Food and AUPU Home
Assuming the 90 days trading horizon Yankershop Food Co is expected to generate 0.98 times more return on investment than AUPU Home. However, Yankershop Food Co is 1.02 times less risky than AUPU Home. It trades about 0.02 of its potential returns per unit of risk. AUPU Home Style is currently generating about 0.01 per unit of risk. If you would invest 5,363 in Yankershop Food Co on October 25, 2024 and sell it today you would earn a total of 298.00 from holding Yankershop Food Co or generate 5.56% 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. AUPU Home Style
Performance |
| Timeline |
| Yankershop Food |
| AUPU Home Style |
Yankershop Food and AUPU Home Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yankershop Food and AUPU Home
The main advantage of trading using opposite Yankershop Food and AUPU Home positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yankershop Food position performs unexpectedly, AUPU Home 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 AUPU Home will offset losses from the drop in AUPU Home's long position.| Yankershop Food vs. Mango Excellent Media | Yankershop Food vs. Threes Company Media | Yankershop Food vs. Spring Airlines Co | Yankershop Food vs. Heilongjiang Publishing Media |
| AUPU Home vs. PetroChina Co Ltd | AUPU Home vs. Gansu Jiu Steel | AUPU Home vs. Ming Yang Smart | AUPU Home vs. Aba Chemicals Corp |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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