Correlation Between Southern PublishingMedia and Youngor Group
Specify exactly 2 symbols:
By analyzing existing cross correlation between Southern PublishingMedia Co and Youngor Group Co, you can compare the effects of market volatilities on Southern PublishingMedia and Youngor Group 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 Southern PublishingMedia with a short position of Youngor Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of Southern PublishingMedia and Youngor Group.
Diversification Opportunities for Southern PublishingMedia and Youngor Group
0.42 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Southern and Youngor is 0.42. Overlapping area represents the amount of risk that can be diversified away by holding Southern PublishingMedia Co and Youngor Group Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Youngor Group and Southern PublishingMedia 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 Southern PublishingMedia Co are associated (or correlated) with Youngor Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Youngor Group has no effect on the direction of Southern PublishingMedia i.e., Southern PublishingMedia and Youngor Group go up and down completely randomly.
Pair Corralation between Southern PublishingMedia and Youngor Group
Assuming the 90 days trading horizon Southern PublishingMedia Co is expected to generate 1.08 times more return on investment than Youngor Group. However, Southern PublishingMedia is 1.08 times more volatile than Youngor Group Co. It trades about 0.08 of its potential returns per unit of risk. Youngor Group Co is currently generating about -0.22 per unit of risk. If you would invest 1,467 in Southern PublishingMedia Co on October 24, 2024 and sell it today you would earn a total of 31.00 from holding Southern PublishingMedia Co or generate 2.11% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Southern PublishingMedia Co vs. Youngor Group Co
Performance |
| Timeline |
| Southern PublishingMedia |
| Youngor Group |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Insignificant
Southern PublishingMedia and Youngor Group Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Southern PublishingMedia and Youngor Group
The main advantage of trading using opposite Southern PublishingMedia and Youngor Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Southern PublishingMedia position performs unexpectedly, Youngor Group 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 Youngor Group will offset losses from the drop in Youngor Group's long position.The idea behind Southern PublishingMedia Co and Youngor Group Co pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
| Youngor Group vs. Tongxing Environmental Protection | Youngor Group vs. Southern PublishingMedia Co | Youngor Group vs. Ciwen Media Co | Youngor Group vs. Changjiang Jinggong Steel |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| Money Flow Index Determine momentum by analyzing Money Flow Index and other technical indicators | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities |