Correlation Between Ye Chiu and Postal Savings
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By analyzing existing cross correlation between Ye Chiu Metal and Postal Savings Bank, you can compare the effects of market volatilities on Ye Chiu and Postal Savings 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 Postal Savings. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ye Chiu and Postal Savings.
Diversification Opportunities for Ye Chiu and Postal Savings
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between 601388 and Postal is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding Ye Chiu Metal and Postal Savings Bank in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Postal Savings Bank 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 Postal Savings. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Postal Savings Bank has no effect on the direction of Ye Chiu i.e., Ye Chiu and Postal Savings go up and down completely randomly.
Pair Corralation between Ye Chiu and Postal Savings
Assuming the 90 days trading horizon Ye Chiu Metal is expected to under-perform the Postal Savings. In addition to that, Ye Chiu is 1.06 times more volatile than Postal Savings Bank. It trades about -0.34 of its total potential returns per unit of risk. Postal Savings Bank is currently generating about -0.26 per unit of volatility. If you would invest 563.00 in Postal Savings Bank on October 25, 2024 and sell it today you would lose (45.00) from holding Postal Savings Bank or give up 7.99% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ye Chiu Metal vs. Postal Savings Bank
Performance |
| Timeline |
| Ye Chiu Metal |
| Postal Savings Bank |
Ye Chiu and Postal Savings Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ye Chiu and Postal Savings
The main advantage of trading using opposite Ye Chiu and Postal Savings positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ye Chiu position performs unexpectedly, Postal Savings 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 Postal Savings will offset losses from the drop in Postal Savings' 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 |
| Postal Savings vs. Uxi Unicomp Technology | Postal Savings vs. Jiangnan Mould Plastic | Postal Savings vs. Guangzhou Restaurants Group | Postal Savings vs. Sanxiang Advanced Materials |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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