Correlation Between Jiangsu Yueda and Yankershop Food
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By analyzing existing cross correlation between Jiangsu Yueda Investment and Yankershop Food Co, you can compare the effects of market volatilities on Jiangsu Yueda 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 Jiangsu Yueda with a short position of Yankershop Food. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiangsu Yueda and Yankershop Food.
Diversification Opportunities for Jiangsu Yueda and Yankershop Food
-0.42 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Jiangsu and Yankershop is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding Jiangsu Yueda Investment and Yankershop Food Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yankershop Food and Jiangsu Yueda 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 Jiangsu Yueda Investment 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 Jiangsu Yueda i.e., Jiangsu Yueda and Yankershop Food go up and down completely randomly.
Pair Corralation between Jiangsu Yueda and Yankershop Food
Assuming the 90 days trading horizon Jiangsu Yueda Investment is expected to generate 0.67 times more return on investment than Yankershop Food. However, Jiangsu Yueda Investment is 1.48 times less risky than Yankershop Food. It trades about -0.01 of its potential returns per unit of risk. Yankershop Food Co is currently generating about -0.2 per unit of risk. If you would invest 438.00 in Jiangsu Yueda Investment on October 26, 2024 and sell it today you would lose (3.00) from holding Jiangsu Yueda Investment or give up 0.68% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiangsu Yueda Investment vs. Yankershop Food Co
Performance |
| Timeline |
| Jiangsu Yueda Investment |
| Yankershop Food |
Jiangsu Yueda and Yankershop Food Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiangsu Yueda and Yankershop Food
The main advantage of trading using opposite Jiangsu Yueda and Yankershop Food positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiangsu Yueda 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.| Jiangsu Yueda vs. Industrial and Commercial | Jiangsu Yueda vs. China Construction Bank | Jiangsu Yueda vs. Bank of China | Jiangsu Yueda vs. Agricultural Bank of |
| Yankershop Food vs. Kweichow Moutai Co | Yankershop Food vs. Contemporary Amperex Technology | Yankershop Food vs. G bits Network Technology | Yankershop Food vs. Beijing Roborock Technology |
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 Money Flow Index module to determine momentum by analyzing Money Flow Index and other technical indicators.
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