Correlation Between Ye Chiu and Easyhome New
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By analyzing existing cross correlation between Ye Chiu Metal and Easyhome New Retail, you can compare the effects of market volatilities on Ye Chiu and Easyhome New 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 Ye Chiu with a short position of Easyhome New. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ye Chiu and Easyhome New.
Diversification Opportunities for Ye Chiu and Easyhome New
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between 601388 and Easyhome is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Ye Chiu Metal and Easyhome New Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Easyhome New Retail and Ye Chiu 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 Ye Chiu Metal are associated (or correlated) with Easyhome New. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Easyhome New Retail has no effect on the direction of Ye Chiu i.e., Ye Chiu and Easyhome New go up and down completely randomly.
Pair Corralation between Ye Chiu and Easyhome New
Assuming the 90 days trading horizon Ye Chiu Metal is expected to generate 0.33 times more return on investment than Easyhome New. However, Ye Chiu Metal is 3.02 times less risky than Easyhome New. It trades about -0.13 of its potential returns per unit of risk. Easyhome New Retail is currently generating about -0.09 per unit of risk. If you would invest 243.00 in Ye Chiu Metal on November 3, 2024 and sell it today you would lose (9.00) from holding Ye Chiu Metal or give up 3.7% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ye Chiu Metal vs. Easyhome New Retail
Performance |
| Timeline |
| Ye Chiu Metal |
| Easyhome New Retail |
Ye Chiu and Easyhome New Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ye Chiu and Easyhome New
The main advantage of trading using opposite Ye Chiu and Easyhome New positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ye Chiu position performs unexpectedly, Easyhome New 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 Easyhome New will offset losses from the drop in Easyhome New's long position.| Ye Chiu vs. Keda Clean Energy | Ye Chiu vs. Citic Guoan Wine | Ye Chiu vs. Tsingtao Brewery Co | Ye Chiu vs. Tonghua Grape Wine |
| Easyhome New vs. Chinese Universe Publishing | Easyhome New vs. COL Digital Publishing | Easyhome New vs. Wintao Communications Co | Easyhome New vs. Bank of Communications |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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