Correlation Between Inner Mongolia and Yunnan Chuangxin
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By analyzing existing cross correlation between Inner Mongolia BaoTou and Yunnan Chuangxin New, you can compare the effects of market volatilities on Inner Mongolia and Yunnan Chuangxin 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 Inner Mongolia with a short position of Yunnan Chuangxin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Inner Mongolia and Yunnan Chuangxin.
Diversification Opportunities for Inner Mongolia and Yunnan Chuangxin
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Inner and Yunnan is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Inner Mongolia BaoTou and Yunnan Chuangxin New in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yunnan Chuangxin New and Inner Mongolia 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 Inner Mongolia BaoTou are associated (or correlated) with Yunnan Chuangxin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yunnan Chuangxin New has no effect on the direction of Inner Mongolia i.e., Inner Mongolia and Yunnan Chuangxin go up and down completely randomly.
Pair Corralation between Inner Mongolia and Yunnan Chuangxin
If you would invest 0.00 in Yunnan Chuangxin New on October 28, 2024 and sell it today you would earn a total of 0.00 from holding Yunnan Chuangxin New or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.76% |
| Values | Daily Returns |
Inner Mongolia BaoTou vs. Yunnan Chuangxin New
Performance |
| Timeline |
| Inner Mongolia BaoTou |
| Yunnan Chuangxin New |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Inner Mongolia and Yunnan Chuangxin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Inner Mongolia and Yunnan Chuangxin
The main advantage of trading using opposite Inner Mongolia and Yunnan Chuangxin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Inner Mongolia position performs unexpectedly, Yunnan Chuangxin 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 Yunnan Chuangxin will offset losses from the drop in Yunnan Chuangxin's long position.| Inner Mongolia vs. Tianjin Silvery Dragon | Inner Mongolia vs. Zotye Automobile Co | Inner Mongolia vs. Lander Sports Development | Inner Mongolia vs. JCHX Mining Management |
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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 ETFs module to find actively traded Exchange Traded Funds (ETF) from around the world.
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