Correlation Between Yuanta Securities and Yuanta 10
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By analyzing existing cross correlation between Yuanta Securities Investment and Yuanta 10 Investment, you can compare the effects of market volatilities on Yuanta Securities 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 Securities with a short position of Yuanta 10. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yuanta Securities and Yuanta 10.
Diversification Opportunities for Yuanta Securities and Yuanta 10
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Yuanta and Yuanta is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding Yuanta Securities Investment 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 Securities 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 Securities Investment 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 Securities i.e., Yuanta Securities and Yuanta 10 go up and down completely randomly.
Pair Corralation between Yuanta Securities and Yuanta 10
Assuming the 90 days trading horizon Yuanta Securities Investment is expected to under-perform the Yuanta 10. In addition to that, Yuanta Securities is 2.8 times more volatile than Yuanta 10 Investment. It trades about -0.07 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 Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yuanta Securities Investment vs. Yuanta 10 Investment
Performance |
| Timeline |
| Yuanta Securities |
| Yuanta 10 Investment |
Yuanta Securities and Yuanta 10 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yuanta Securities and Yuanta 10
The main advantage of trading using opposite Yuanta Securities and Yuanta 10 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yuanta Securities 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 Securities vs. Yuanta Daily Taiwan | Yuanta Securities vs. Yuanta Daily CSI | Yuanta Securities vs. Fubon FTSE Vietnam | Yuanta Securities vs. Fuh Hwa Emerging |
| 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 Portfolio Volatility module to check portfolio volatility and analyze historical return density to properly model market risk.
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