Correlation Between Foryou Corp and China Publishing
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By analyzing existing cross correlation between Foryou Corp and China Publishing Media, you can compare the effects of market volatilities on Foryou Corp and China Publishing 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 Foryou Corp with a short position of China Publishing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Foryou Corp and China Publishing.
Diversification Opportunities for Foryou Corp and China Publishing
0.79 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Foryou and China is 0.79. Overlapping area represents the amount of risk that can be diversified away by holding Foryou Corp and China Publishing Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Publishing Media and Foryou Corp 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 Foryou Corp are associated (or correlated) with China Publishing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Publishing Media has no effect on the direction of Foryou Corp i.e., Foryou Corp and China Publishing go up and down completely randomly.
Pair Corralation between Foryou Corp and China Publishing
Assuming the 90 days trading horizon Foryou Corp is expected to generate 29.31 times less return on investment than China Publishing. But when comparing it to its historical volatility, Foryou Corp is 1.72 times less risky than China Publishing. It trades about 0.01 of its potential returns per unit of risk. China Publishing Media is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest 685.00 in China Publishing Media on August 31, 2024 and sell it today you would earn a total of 132.00 from holding China Publishing Media or generate 19.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 95.65% |
| Values | Daily Returns |
Foryou Corp vs. China Publishing Media
Performance |
| Timeline |
| Foryou Corp |
| China Publishing Media |
Foryou Corp and China Publishing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Foryou Corp and China Publishing
The main advantage of trading using opposite Foryou Corp and China Publishing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Foryou Corp position performs unexpectedly, China Publishing 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 China Publishing will offset losses from the drop in China Publishing's long position.| Foryou Corp vs. China Publishing Media | Foryou Corp vs. Northking Information Technology | Foryou Corp vs. Saurer Intelligent Technology | Foryou Corp vs. Shanghai Action Education |
| China Publishing vs. BYD Co Ltd | China Publishing vs. Agricultural Bank of | China Publishing vs. Industrial and Commercial | China Publishing vs. China State Construction |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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