Correlation Between Ming Yang and V V
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By analyzing existing cross correlation between Ming Yang Smart and V V Food, you can compare the effects of market volatilities on Ming Yang and V V 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 Ming Yang with a short position of V V. Check out your portfolio center. Please also check ongoing floating volatility patterns of Ming Yang and V V.
Diversification Opportunities for Ming Yang and V V
Very poor diversification
The 3 months correlation between Ming and 600300 is 0.84. Overlapping area represents the amount of risk that can be diversified away by holding Ming Yang Smart and V V Food in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on V V Food and Ming Yang 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 Ming Yang Smart are associated (or correlated) with V V. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of V V Food has no effect on the direction of Ming Yang i.e., Ming Yang and V V go up and down completely randomly.
Pair Corralation between Ming Yang and V V
Assuming the 90 days trading horizon Ming Yang Smart is expected to under-perform the V V. But the stock apears to be less risky and, when comparing its historical volatility, Ming Yang Smart is 1.92 times less risky than V V. The stock trades about -0.15 of its potential returns per unit of risk. The V V Food is currently generating about 0.14 of returns per unit of risk over similar time horizon. If you would invest 302.00 in V V Food on September 29, 2024 and sell it today you would earn a total of 35.00 from holding V V Food or generate 11.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Ming Yang Smart vs. V V Food
Performance |
| Timeline |
| Ming Yang Smart |
| V V Food |
Ming Yang and V V Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Ming Yang and V V
The main advantage of trading using opposite Ming Yang and V V positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Ming Yang position performs unexpectedly, V V 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 V V will offset losses from the drop in V V's long position.| Ming Yang vs. Xian International Medical | Ming Yang vs. Winner Medical Co | Ming Yang vs. Allmed Medical Products | Ming Yang vs. CareRay Digital Medical |
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 Portfolio Analyzer module to portfolio analysis module that provides access to portfolio diagnostics and optimization engine.
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