Correlation Between Ye Chiu and Gem Year
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By analyzing existing cross correlation between Ye Chiu Metal and Gem Year Industrial Co, you can compare the effects of market volatilities on Ye Chiu and Gem Year 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 Gem Year. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ye Chiu and Gem Year.
Diversification Opportunities for Ye Chiu and Gem Year
Almost no diversification
The 3 months correlation between 601388 and Gem is 0.93. Overlapping area represents the amount of risk that can be diversified away by holding Ye Chiu Metal and Gem Year Industrial Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gem Year Industrial 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 Gem Year. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gem Year Industrial has no effect on the direction of Ye Chiu i.e., Ye Chiu and Gem Year go up and down completely randomly.
Pair Corralation between Ye Chiu and Gem Year
Assuming the 90 days trading horizon Ye Chiu Metal is expected to under-perform the Gem Year. In addition to that, Ye Chiu is 1.16 times more volatile than Gem Year Industrial Co. It trades about -0.01 of its total potential returns per unit of risk. Gem Year Industrial Co is currently generating about 0.0 per unit of volatility. If you would invest 480.00 in Gem Year Industrial Co on August 29, 2024 and sell it today you would lose (39.00) from holding Gem Year Industrial Co or give up 8.12% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ye Chiu Metal vs. Gem Year Industrial Co
Performance |
| Timeline |
| Ye Chiu Metal |
| Gem Year Industrial |
Ye Chiu and Gem Year Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ye Chiu and Gem Year
The main advantage of trading using opposite Ye Chiu and Gem Year positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ye Chiu position performs unexpectedly, Gem Year 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 Gem Year will offset losses from the drop in Gem Year's long position.| Ye Chiu vs. Wanhua Chemical Group | Ye Chiu vs. Shandong Gold Mining | Ye Chiu vs. Rongsheng Petrochemical Co | Ye Chiu vs. Inner Mongolia BaoTou |
| Gem Year vs. Industrial and Commercial | Gem Year vs. Agricultural Bank of | Gem Year vs. China Construction Bank | Gem Year vs. Bank of China |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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