Correlation Between Kweichow Moutai and Yankershop Food
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By analyzing existing cross correlation between Kweichow Moutai Co and Yankershop Food Co, you can compare the effects of market volatilities on Kweichow Moutai and Yankershop Food 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 Kweichow Moutai with a short position of Yankershop Food. Check out your portfolio center. Please also check ongoing floating volatility patterns of Kweichow Moutai and Yankershop Food.
Diversification Opportunities for Kweichow Moutai and Yankershop Food
-0.07 | Correlation Coefficient |
Good diversification
The 3 months correlation between Kweichow and Yankershop is -0.07. Overlapping area represents the amount of risk that can be diversified away by holding Kweichow Moutai Co and Yankershop Food Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yankershop Food and Kweichow Moutai 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 Kweichow Moutai Co are associated (or correlated) with Yankershop Food. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yankershop Food has no effect on the direction of Kweichow Moutai i.e., Kweichow Moutai and Yankershop Food go up and down completely randomly.
Pair Corralation between Kweichow Moutai and Yankershop Food
Assuming the 90 days trading horizon Kweichow Moutai Co is expected to under-perform the Yankershop Food. But the stock apears to be less risky and, when comparing its historical volatility, Kweichow Moutai Co is 1.52 times less risky than Yankershop Food. The stock trades about -0.02 of its potential returns per unit of risk. The Yankershop Food Co is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 5,387 in Yankershop Food Co on November 5, 2024 and sell it today you would lose (55.00) from holding Yankershop Food Co or give up 1.02% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Kweichow Moutai Co vs. Yankershop Food Co
Performance |
| Timeline |
| Kweichow Moutai |
| Yankershop Food |
Kweichow Moutai and Yankershop Food Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Kweichow Moutai and Yankershop Food
The main advantage of trading using opposite Kweichow Moutai and Yankershop Food positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Kweichow Moutai position performs unexpectedly, Yankershop Food 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 Yankershop Food will offset losses from the drop in Yankershop Food's long position.| Kweichow Moutai vs. Anji Foodstuff Co | Kweichow Moutai vs. JuneYao Dairy Co | Kweichow Moutai vs. Guizhou Chanhen Chemical | Kweichow Moutai vs. Xinxiang Chemical Fiber |
| Yankershop Food vs. Queclink Wireless Solutions | Yankershop Food vs. Nanjing OLO Home | Yankershop Food vs. Southern PublishingMedia Co | Yankershop Food vs. Xiamen Goldenhome Co |
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 Equity Valuation module to check real value of public entities based on technical and fundamental data.
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