Correlation Between Yuanta Treasury and Fubon SSE180
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By analyzing existing cross correlation between Yuanta Treasury 1 3 and Fubon SSE180 Leveraged, you can compare the effects of market volatilities on Yuanta Treasury and Fubon SSE180 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 Treasury with a short position of Fubon SSE180. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yuanta Treasury and Fubon SSE180.
Diversification Opportunities for Yuanta Treasury and Fubon SSE180
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Yuanta and Fubon is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Yuanta Treasury 1 3 and Fubon SSE180 Leveraged in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Fubon SSE180 Leveraged and Yuanta Treasury 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 Treasury 1 3 are associated (or correlated) with Fubon SSE180. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Fubon SSE180 Leveraged has no effect on the direction of Yuanta Treasury i.e., Yuanta Treasury and Fubon SSE180 go up and down completely randomly.
Pair Corralation between Yuanta Treasury and Fubon SSE180
Assuming the 90 days trading horizon Yuanta Treasury 1 3 is expected to generate 0.14 times more return on investment than Fubon SSE180. However, Yuanta Treasury 1 3 is 7.29 times less risky than Fubon SSE180. It trades about 0.23 of its potential returns per unit of risk. Fubon SSE180 Leveraged is currently generating about 0.02 per unit of risk. If you would invest 3,148 in Yuanta Treasury 1 3 on September 1, 2024 and sell it today you would earn a total of 49.00 from holding Yuanta Treasury 1 3 or generate 1.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yuanta Treasury 1 3 vs. Fubon SSE180 Leveraged
Performance |
| Timeline |
| Yuanta Treasury 1 |
| Fubon SSE180 Leveraged |
Yuanta Treasury and Fubon SSE180 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yuanta Treasury and Fubon SSE180
The main advantage of trading using opposite Yuanta Treasury and Fubon SSE180 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yuanta Treasury position performs unexpectedly, Fubon SSE180 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 Fubon SSE180 will offset losses from the drop in Fubon SSE180's long position.| Yuanta Treasury vs. YuantaP shares Taiwan Top | Yuanta Treasury vs. Yuanta Daily Taiwan | Yuanta Treasury vs. Cathay Taiwan 5G | Yuanta Treasury vs. Yuanta Daily CSI |
| Fubon SSE180 vs. Fubon Hang Seng | Fubon SSE180 vs. Fubon SP Preferred | Fubon SSE180 vs. Fubon NASDAQ 100 1X | Fubon SSE180 vs. Fubon TWSE Corporate |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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