Correlation Between Lotus Health and Yuanjie Semiconductor
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By analyzing existing cross correlation between Lotus Health Group and Yuanjie Semiconductor Technology, you can compare the effects of market volatilities on Lotus Health and Yuanjie Semiconductor 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 Lotus Health with a short position of Yuanjie Semiconductor. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lotus Health and Yuanjie Semiconductor.
Diversification Opportunities for Lotus Health and Yuanjie Semiconductor
-0.37 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Lotus and Yuanjie is -0.37. Overlapping area represents the amount of risk that can be diversified away by holding Lotus Health Group and Yuanjie Semiconductor Technolo in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yuanjie Semiconductor and Lotus 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 Lotus Health Group are associated (or correlated) with Yuanjie Semiconductor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yuanjie Semiconductor has no effect on the direction of Lotus Health i.e., Lotus Health and Yuanjie Semiconductor go up and down completely randomly.
Pair Corralation between Lotus Health and Yuanjie Semiconductor
Assuming the 90 days trading horizon Lotus Health is expected to generate 1.17 times less return on investment than Yuanjie Semiconductor. But when comparing it to its historical volatility, Lotus Health Group is 1.25 times less risky than Yuanjie Semiconductor. It trades about 0.14 of its potential returns per unit of risk. Yuanjie Semiconductor Technology is currently generating about 0.13 of returns per unit of risk over similar time horizon. If you would invest 8,997 in Yuanjie Semiconductor Technology on October 18, 2024 and sell it today you would earn a total of 5,390 from holding Yuanjie Semiconductor Technology or generate 59.91% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lotus Health Group vs. Yuanjie Semiconductor Technolo
Performance |
| Timeline |
| Lotus Health Group |
| Yuanjie Semiconductor |
Lotus Health and Yuanjie Semiconductor Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lotus Health and Yuanjie Semiconductor
The main advantage of trading using opposite Lotus Health and Yuanjie Semiconductor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lotus Health position performs unexpectedly, Yuanjie Semiconductor 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 Yuanjie Semiconductor will offset losses from the drop in Yuanjie Semiconductor's long position.| Lotus Health vs. Wasu Media Holding | Lotus Health vs. Southern PublishingMedia Co | Lotus Health vs. Hangzhou Arcvideo Technology | Lotus Health vs. China Publishing Media |
| Yuanjie Semiconductor vs. Lotus Health Group | Yuanjie Semiconductor vs. Ziel Home Furnishing | Yuanjie Semiconductor vs. Mingchen Health Co | Yuanjie Semiconductor vs. Shanghai Rongtai Health |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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