Correlation Between Youngy Health and AVCON Information
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By analyzing existing cross correlation between Youngy Health Co and AVCON Information Tech, you can compare the effects of market volatilities on Youngy Health and AVCON Information 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 Youngy Health with a short position of AVCON Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Youngy Health and AVCON Information.
Diversification Opportunities for Youngy Health and AVCON Information
0.86 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Youngy and AVCON is 0.86. Overlapping area represents the amount of risk that can be diversified away by holding Youngy Health Co and AVCON Information Tech in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AVCON Information Tech and Youngy Health 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 Youngy Health Co are associated (or correlated) with AVCON Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AVCON Information Tech has no effect on the direction of Youngy Health i.e., Youngy Health and AVCON Information go up and down completely randomly.
Pair Corralation between Youngy Health and AVCON Information
Assuming the 90 days trading horizon Youngy Health Co is expected to generate 1.02 times more return on investment than AVCON Information. However, Youngy Health is 1.02 times more volatile than AVCON Information Tech. It trades about 0.1 of its potential returns per unit of risk. AVCON Information Tech is currently generating about 0.06 per unit of risk. If you would invest 247.00 in Youngy Health Co on November 3, 2024 and sell it today you would earn a total of 111.00 from holding Youngy Health Co or generate 44.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Youngy Health Co vs. AVCON Information Tech
Performance |
| Timeline |
| Youngy Health |
| AVCON Information Tech |
Youngy Health and AVCON Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Youngy Health and AVCON Information
The main advantage of trading using opposite Youngy Health and AVCON Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Youngy Health position performs unexpectedly, AVCON Information 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 AVCON Information will offset losses from the drop in AVCON Information's long position.| Youngy Health vs. Nexchip Semiconductor Corp | Youngy Health vs. Citic Guoan Wine | Youngy Health vs. Xinjiang Baodi Mining | Youngy Health vs. Juneyao Airlines |
| AVCON Information vs. Industrial and Commercial | AVCON Information vs. Kweichow Moutai Co | AVCON Information vs. Agricultural Bank of | AVCON Information vs. China Mobile Limited |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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