Correlation Between Ye Chiu and Huaxia Fund
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By analyzing existing cross correlation between Ye Chiu Metal and Huaxia Fund Management, you can compare the effects of market volatilities on Ye Chiu and Huaxia Fund 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 Huaxia Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ye Chiu and Huaxia Fund.
Diversification Opportunities for Ye Chiu and Huaxia Fund
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between 601388 and Huaxia is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Ye Chiu Metal and Huaxia Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Huaxia Fund Management 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 Huaxia Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Huaxia Fund Management has no effect on the direction of Ye Chiu i.e., Ye Chiu and Huaxia Fund go up and down completely randomly.
Pair Corralation between Ye Chiu and Huaxia Fund
Assuming the 90 days trading horizon Ye Chiu Metal is expected to under-perform the Huaxia Fund. In addition to that, Ye Chiu is 2.53 times more volatile than Huaxia Fund Management. It trades about -0.02 of its total potential returns per unit of risk. Huaxia Fund Management is currently generating about 0.05 per unit of volatility. If you would invest 246.00 in Huaxia Fund Management on October 11, 2024 and sell it today you would earn a total of 54.00 from holding Huaxia Fund Management or generate 21.95% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ye Chiu Metal vs. Huaxia Fund Management
Performance |
| Timeline |
| Ye Chiu Metal |
| Huaxia Fund Management |
Ye Chiu and Huaxia Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ye Chiu and Huaxia Fund
The main advantage of trading using opposite Ye Chiu and Huaxia Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ye Chiu position performs unexpectedly, Huaxia Fund 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 Huaxia Fund will offset losses from the drop in Huaxia Fund's long position.| Ye Chiu vs. Zhangjiagang Freetrade Science | Ye Chiu vs. Luolai Home Textile | Ye Chiu vs. Jason Furniture | Ye Chiu vs. Jiangsu Yanghe Brewery |
| Huaxia Fund vs. Ye Chiu Metal | Huaxia Fund vs. Shenyang Huitian Thermal | Huaxia Fund vs. Shenzhen Bioeasy Biotechnology | Huaxia Fund vs. Chengtun Mining Group |
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 Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
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