Correlation Between Ye Chiu and Soyea Technology
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By analyzing existing cross correlation between Ye Chiu Metal and Soyea Technology Co, you can compare the effects of market volatilities on Ye Chiu and Soyea Technology 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 Soyea Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ye Chiu and Soyea Technology.
Diversification Opportunities for Ye Chiu and Soyea Technology
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between 601388 and Soyea is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding Ye Chiu Metal and Soyea Technology Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Soyea Technology 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 Soyea Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Soyea Technology has no effect on the direction of Ye Chiu i.e., Ye Chiu and Soyea Technology go up and down completely randomly.
Pair Corralation between Ye Chiu and Soyea Technology
Assuming the 90 days trading horizon Ye Chiu Metal is expected to generate 1.07 times more return on investment than Soyea Technology. However, Ye Chiu is 1.07 times more volatile than Soyea Technology Co. It trades about 0.03 of its potential returns per unit of risk. Soyea Technology Co is currently generating about 0.01 per unit of risk. If you would invest 251.00 in Ye Chiu Metal on September 12, 2024 and sell it today you would earn a total of 33.00 from holding Ye Chiu Metal or generate 13.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ye Chiu Metal vs. Soyea Technology Co
Performance |
| Timeline |
| Ye Chiu Metal |
| Soyea Technology |
Ye Chiu and Soyea Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ye Chiu and Soyea Technology
The main advantage of trading using opposite Ye Chiu and Soyea Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ye Chiu position performs unexpectedly, Soyea Technology 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 Soyea Technology will offset losses from the drop in Soyea Technology's long position.| Ye Chiu vs. Zijin Mining Group | Ye Chiu vs. Wanhua Chemical Group | Ye Chiu vs. Baoshan Iron Steel | Ye Chiu vs. Rongsheng Petrochemical Co |
| Soyea Technology vs. Industrial and Commercial | Soyea Technology vs. China Construction Bank | Soyea Technology vs. Bank of China | Soyea Technology vs. Agricultural Bank of |
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 Global Correlations module to find global opportunities by holding instruments from different markets.
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