Correlation Between Tianjin LVYIN and Ming Yang
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By analyzing existing cross correlation between Tianjin LVYIN Landscape and Ming Yang Smart, you can compare the effects of market volatilities on Tianjin LVYIN and Ming Yang 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 Tianjin LVYIN with a short position of Ming Yang. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tianjin LVYIN and Ming Yang.
Diversification Opportunities for Tianjin LVYIN and Ming Yang
0.93 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Tianjin and Ming is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Tianjin LVYIN Landscape and Ming Yang Smart in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ming Yang Smart and Tianjin LVYIN 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 Tianjin LVYIN Landscape are associated (or correlated) with Ming Yang. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ming Yang Smart has no effect on the direction of Tianjin LVYIN i.e., Tianjin LVYIN and Ming Yang go up and down completely randomly.
Pair Corralation between Tianjin LVYIN and Ming Yang
Assuming the 90 days trading horizon Tianjin LVYIN Landscape is expected to generate 1.1 times more return on investment than Ming Yang. However, Tianjin LVYIN is 1.1 times more volatile than Ming Yang Smart. It trades about 0.0 of its potential returns per unit of risk. Ming Yang Smart is currently generating about -0.01 per unit of risk. If you would invest 832.00 in Tianjin LVYIN Landscape on September 26, 2024 and sell it today you would lose (119.00) from holding Tianjin LVYIN Landscape or give up 14.3% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Tianjin LVYIN Landscape vs. Ming Yang Smart
Performance |
| Timeline |
| Tianjin LVYIN Landscape |
| Ming Yang Smart |
Tianjin LVYIN and Ming Yang Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Tianjin LVYIN and Ming Yang
The main advantage of trading using opposite Tianjin LVYIN and Ming Yang positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tianjin LVYIN position performs unexpectedly, Ming Yang 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 Ming Yang will offset losses from the drop in Ming Yang's long position.| Tianjin LVYIN vs. Ming Yang Smart | Tianjin LVYIN vs. 159681 | Tianjin LVYIN vs. 159005 | Tianjin LVYIN vs. Loctek Ergonomic Technology |
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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 CEOs Directory module to screen CEOs from public companies around the world.
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