Correlation Between Iat Automobile and Yindu Kitchen
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By analyzing existing cross correlation between Iat Automobile Technology and Yindu Kitchen Equipment, you can compare the effects of market volatilities on Iat Automobile and Yindu Kitchen 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 Iat Automobile with a short position of Yindu Kitchen. Check out your portfolio center. Please also check ongoing floating volatility patterns of Iat Automobile and Yindu Kitchen.
Diversification Opportunities for Iat Automobile and Yindu Kitchen
-0.23 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Iat and Yindu is -0.23. Overlapping area represents the amount of risk that can be diversified away by holding Iat Automobile Technology and Yindu Kitchen Equipment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yindu Kitchen Equipment and Iat Automobile 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 Iat Automobile Technology are associated (or correlated) with Yindu Kitchen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yindu Kitchen Equipment has no effect on the direction of Iat Automobile i.e., Iat Automobile and Yindu Kitchen go up and down completely randomly.
Pair Corralation between Iat Automobile and Yindu Kitchen
Assuming the 90 days trading horizon Iat Automobile is expected to generate 1.06 times less return on investment than Yindu Kitchen. In addition to that, Iat Automobile is 1.74 times more volatile than Yindu Kitchen Equipment. It trades about 0.03 of its total potential returns per unit of risk. Yindu Kitchen Equipment is currently generating about 0.05 per unit of volatility. If you would invest 1,626 in Yindu Kitchen Equipment on September 14, 2024 and sell it today you would earn a total of 819.00 from holding Yindu Kitchen Equipment or generate 50.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Iat Automobile Technology vs. Yindu Kitchen Equipment
Performance |
| Timeline |
| Iat Automobile Technology |
| Yindu Kitchen Equipment |
Iat Automobile and Yindu Kitchen Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Iat Automobile and Yindu Kitchen
The main advantage of trading using opposite Iat Automobile and Yindu Kitchen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Iat Automobile position performs unexpectedly, Yindu Kitchen 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 Yindu Kitchen will offset losses from the drop in Yindu Kitchen's long position.| Iat Automobile vs. Cofoe Medical Technology | Iat Automobile vs. China Asset Management | Iat Automobile vs. Vanfund Urban Investment | Iat Automobile vs. Zoje Resources Investment |
| Yindu Kitchen vs. Industrial and Commercial | Yindu Kitchen vs. Kweichow Moutai Co | Yindu Kitchen vs. Agricultural Bank of | Yindu Kitchen 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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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