Correlation Between Yuanta SP and Yuanta 10
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By analyzing existing cross correlation between Yuanta SP GSCI and Yuanta 10 Investment, you can compare the effects of market volatilities on Yuanta SP and Yuanta 10 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 Yuanta SP with a short position of Yuanta 10. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yuanta SP and Yuanta 10.
Diversification Opportunities for Yuanta SP and Yuanta 10
Very good diversification
The 3 months correlation between Yuanta and Yuanta is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding Yuanta SP GSCI and Yuanta 10 Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yuanta 10 Investment and Yuanta SP 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 Yuanta SP GSCI are associated (or correlated) with Yuanta 10. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yuanta 10 Investment has no effect on the direction of Yuanta SP i.e., Yuanta SP and Yuanta 10 go up and down completely randomly.
Pair Corralation between Yuanta SP and Yuanta 10
Assuming the 90 days trading horizon Yuanta SP GSCI is expected to under-perform the Yuanta 10. In addition to that, Yuanta SP is 2.06 times more volatile than Yuanta 10 Investment. It trades about -0.18 of its total potential returns per unit of risk. Yuanta 10 Investment is currently generating about 0.23 per unit of volatility. If you would invest 3,184 in Yuanta 10 Investment on September 1, 2024 and sell it today you would earn a total of 96.00 from holding Yuanta 10 Investment or generate 3.02% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yuanta SP GSCI vs. Yuanta 10 Investment
Performance |
| Timeline |
| Yuanta SP GSCI |
| Yuanta 10 Investment |
Yuanta SP and Yuanta 10 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yuanta SP and Yuanta 10
The main advantage of trading using opposite Yuanta SP and Yuanta 10 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yuanta SP position performs unexpectedly, Yuanta 10 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 Yuanta 10 will offset losses from the drop in Yuanta 10's long position.| Yuanta SP vs. Yuanta Daily SP | Yuanta SP vs. Yuanta Securities Investment | Yuanta SP vs. Yuanta Global NexGen | Yuanta SP vs. Yuanta SP GSCI |
| Yuanta 10 vs. Yuanta Daily Taiwan | Yuanta 10 vs. Yuanta Daily CSI | Yuanta 10 vs. Fubon FTSE Vietnam | Yuanta 10 vs. Fuh Hwa Emerging |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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