Correlation Between Yuanta Treasury and Kinko Optical
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By analyzing existing cross correlation between Yuanta Treasury 1 3 and Kinko Optical Co, you can compare the effects of market volatilities on Yuanta Treasury and Kinko Optical 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 Kinko Optical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yuanta Treasury and Kinko Optical.
Diversification Opportunities for Yuanta Treasury and Kinko Optical
0.64 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Yuanta and Kinko is 0.64. Overlapping area represents the amount of risk that can be diversified away by holding Yuanta Treasury 1 3 and Kinko Optical Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Kinko Optical 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 Kinko Optical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Kinko Optical has no effect on the direction of Yuanta Treasury i.e., Yuanta Treasury and Kinko Optical go up and down completely randomly.
Pair Corralation between Yuanta Treasury and Kinko Optical
Assuming the 90 days trading horizon Yuanta Treasury 1 3 is expected to under-perform the Kinko Optical. But the etf apears to be less risky and, when comparing its historical volatility, Yuanta Treasury 1 3 is 20.17 times less risky than Kinko Optical. The etf trades about -0.14 of its potential returns per unit of risk. The Kinko Optical Co is currently generating about 0.3 of returns per unit of risk over similar time horizon. If you would invest 2,665 in Kinko Optical Co on December 1, 2024 and sell it today you would earn a total of 510.00 from holding Kinko Optical Co or generate 19.14% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yuanta Treasury 1 3 vs. Kinko Optical Co
Performance |
| Timeline |
| Yuanta Treasury 1 |
| Kinko Optical |
Yuanta Treasury and Kinko Optical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yuanta Treasury and Kinko Optical
The main advantage of trading using opposite Yuanta Treasury and Kinko Optical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yuanta Treasury position performs unexpectedly, Kinko Optical 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 Kinko Optical will offset losses from the drop in Kinko Optical'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 |
| Kinko Optical vs. Asia Optical Co | Kinko Optical vs. Genius Electronic Optical | Kinko Optical vs. Altek Corp | Kinko Optical vs. Hannstar Display Corp |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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