Correlation Between Kunwu Jiuding and Youngy Health
Specify exactly 2 symbols:
By analyzing existing cross correlation between Kunwu Jiuding Investment and Youngy Health Co, you can compare the effects of market volatilities on Kunwu Jiuding and Youngy Health 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 Kunwu Jiuding with a short position of Youngy Health. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kunwu Jiuding and Youngy Health.
Diversification Opportunities for Kunwu Jiuding and Youngy Health
0.83 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Kunwu and Youngy is 0.83. Overlapping area represents the amount of risk that can be diversified away by holding Kunwu Jiuding Investment and Youngy Health Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Youngy Health and Kunwu Jiuding 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 Kunwu Jiuding Investment are associated (or correlated) with Youngy Health. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Youngy Health has no effect on the direction of Kunwu Jiuding i.e., Kunwu Jiuding and Youngy Health go up and down completely randomly.
Pair Corralation between Kunwu Jiuding and Youngy Health
Assuming the 90 days trading horizon Kunwu Jiuding Investment is expected to under-perform the Youngy Health. In addition to that, Kunwu Jiuding is 1.5 times more volatile than Youngy Health Co. It trades about -0.13 of its total potential returns per unit of risk. Youngy Health Co is currently generating about -0.05 per unit of volatility. If you would invest 370.00 in Youngy Health Co on October 30, 2024 and sell it today you would lose (12.00) from holding Youngy Health Co or give up 3.24% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kunwu Jiuding Investment vs. Youngy Health Co
Performance |
| Timeline |
| Kunwu Jiuding Investment |
| Youngy Health |
Kunwu Jiuding and Youngy Health Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kunwu Jiuding and Youngy Health
The main advantage of trading using opposite Kunwu Jiuding and Youngy Health positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kunwu Jiuding position performs unexpectedly, Youngy Health 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 Youngy Health will offset losses from the drop in Youngy Health's long position.| Kunwu Jiuding vs. Thinkingdom Media Group | Kunwu Jiuding vs. Heilongjiang Publishing Media | Kunwu Jiuding vs. Guilin Seamild Foods | Kunwu Jiuding vs. Threes Company Media |
| Youngy Health vs. Jiangxi Hengda Hi Tech | Youngy Health vs. Fujian Newland Computer | Youngy Health vs. 360 Security Technology | Youngy Health vs. Beijing Seeyon Internet |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
Other Complementary Tools
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
| CEOs Directory Screen CEOs from public companies around the world | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities |