Correlation Between Yuanta STOXX and Yuanta 10
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By analyzing existing cross correlation between Yuanta STOXX Global and Yuanta 10 Investment, you can compare the effects of market volatilities on Yuanta STOXX 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 STOXX with a short position of Yuanta 10. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yuanta STOXX and Yuanta 10.
Diversification Opportunities for Yuanta STOXX and Yuanta 10
-0.51 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Yuanta and Yuanta is -0.51. Overlapping area represents the amount of risk that can be diversified away by holding Yuanta STOXX Global 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 STOXX 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 STOXX Global 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 STOXX i.e., Yuanta STOXX and Yuanta 10 go up and down completely randomly.
Pair Corralation between Yuanta STOXX and Yuanta 10
Assuming the 90 days trading horizon Yuanta STOXX Global is expected to generate 2.52 times more return on investment than Yuanta 10. However, Yuanta STOXX is 2.52 times more volatile than Yuanta 10 Investment. It trades about 0.21 of its potential returns per unit of risk. Yuanta 10 Investment is currently generating about 0.23 per unit of risk. If you would invest 6,580 in Yuanta STOXX Global on September 1, 2024 and sell it today you would earn a total of 450.00 from holding Yuanta STOXX Global or generate 6.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yuanta STOXX Global vs. Yuanta 10 Investment
Performance |
| Timeline |
| Yuanta STOXX Global |
| Yuanta 10 Investment |
Yuanta STOXX and Yuanta 10 Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yuanta STOXX and Yuanta 10
The main advantage of trading using opposite Yuanta STOXX and Yuanta 10 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yuanta STOXX 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 STOXX vs. Yuanta Daily SP | Yuanta STOXX vs. Yuanta Securities Investment | Yuanta STOXX vs. Yuanta SP GSCI | Yuanta STOXX vs. Yuanta Global NexGen |
| 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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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