Correlation Between ShuYu Civilian and Luyin Investment
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By analyzing existing cross correlation between ShuYu Civilian Pharmacy and Luyin Investment Group, you can compare the effects of market volatilities on ShuYu Civilian and Luyin Investment 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 ShuYu Civilian with a short position of Luyin Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of ShuYu Civilian and Luyin Investment.
Diversification Opportunities for ShuYu Civilian and Luyin Investment
0.71 | Correlation Coefficient |
Poor diversification
The 3 months correlation between ShuYu and Luyin is 0.71. Overlapping area represents the amount of risk that can be diversified away by holding ShuYu Civilian Pharmacy and Luyin Investment Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Luyin Investment and ShuYu Civilian 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 ShuYu Civilian Pharmacy are associated (or correlated) with Luyin Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Luyin Investment has no effect on the direction of ShuYu Civilian i.e., ShuYu Civilian and Luyin Investment go up and down completely randomly.
Pair Corralation between ShuYu Civilian and Luyin Investment
Assuming the 90 days trading horizon ShuYu Civilian Pharmacy is expected to under-perform the Luyin Investment. But the stock apears to be less risky and, when comparing its historical volatility, ShuYu Civilian Pharmacy is 1.18 times less risky than Luyin Investment. The stock trades about -0.21 of its potential returns per unit of risk. The Luyin Investment Group is currently generating about -0.02 of returns per unit of risk over similar time horizon. If you would invest 598.00 in Luyin Investment Group on October 30, 2024 and sell it today you would lose (12.00) from holding Luyin Investment Group or give up 2.01% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
ShuYu Civilian Pharmacy vs. Luyin Investment Group
Performance |
| Timeline |
| ShuYu Civilian Pharmacy |
| Luyin Investment |
ShuYu Civilian and Luyin Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ShuYu Civilian and Luyin Investment
The main advantage of trading using opposite ShuYu Civilian and Luyin Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ShuYu Civilian position performs unexpectedly, Luyin Investment 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 Luyin Investment will offset losses from the drop in Luyin Investment's long position.| ShuYu Civilian vs. Lianhe Chemical Technology | ShuYu Civilian vs. Shandong Rike Chemical | ShuYu Civilian vs. Cansino Biologics | ShuYu Civilian vs. Gansu Huangtai Wine marketing |
| Luyin Investment vs. Zijin Mining Group | Luyin Investment vs. Wanhua Chemical Group | Luyin Investment vs. Baoshan Iron Steel | Luyin Investment vs. Shandong Gold Mining |
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 CEOs Directory module to screen CEOs from public companies around the world.
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