Correlation Between Yuanta 10 and Yuanta Global
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By analyzing existing cross correlation between Yuanta 10 Investment and Yuanta Global NexGen, you can compare the effects of market volatilities on Yuanta 10 and Yuanta Global 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 10 with a short position of Yuanta Global. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yuanta 10 and Yuanta Global.
Diversification Opportunities for Yuanta 10 and Yuanta Global
-0.19 | Correlation Coefficient |
Good diversification
The 3 months correlation between Yuanta and Yuanta is -0.19. Overlapping area represents the amount of risk that can be diversified away by holding Yuanta 10 Investment and Yuanta Global NexGen in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yuanta Global NexGen and Yuanta 10 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 10 Investment are associated (or correlated) with Yuanta Global. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yuanta Global NexGen has no effect on the direction of Yuanta 10 i.e., Yuanta 10 and Yuanta Global go up and down completely randomly.
Pair Corralation between Yuanta 10 and Yuanta Global
Assuming the 90 days trading horizon Yuanta 10 Investment is expected to generate 0.54 times more return on investment than Yuanta Global. However, Yuanta 10 Investment is 1.85 times less risky than Yuanta Global. It trades about 0.23 of its potential returns per unit of risk. Yuanta Global NexGen is currently generating about -0.11 per unit of risk. 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 | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yuanta 10 Investment vs. Yuanta Global NexGen
Performance |
| Timeline |
| Yuanta 10 Investment |
| Yuanta Global NexGen |
Yuanta 10 and Yuanta Global Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yuanta 10 and Yuanta Global
The main advantage of trading using opposite Yuanta 10 and Yuanta Global positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yuanta 10 position performs unexpectedly, Yuanta Global 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 Global will offset losses from the drop in Yuanta Global's long position.| Yuanta 10 vs. Yuanta Daily Taiwan | Yuanta 10 vs. Yuanta Daily CSI | Yuanta 10 vs. Fubon FTSE Vietnam | Yuanta 10 vs. Fuh Hwa Emerging |
| Yuanta Global vs. Yuanta Daily Taiwan | Yuanta Global vs. Yuanta Daily CSI | Yuanta Global vs. Fubon FTSE Vietnam | Yuanta Global 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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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