Correlation Between Yindu Kitchen and SI TECH
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By analyzing existing cross correlation between Yindu Kitchen Equipment and SI TECH Information Technology, you can compare the effects of market volatilities on Yindu Kitchen and SI TECH 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 Yindu Kitchen with a short position of SI TECH. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yindu Kitchen and SI TECH.
Diversification Opportunities for Yindu Kitchen and SI TECH
-0.08 | Correlation Coefficient |
Good diversification
The 3 months correlation between Yindu and 300608 is -0.08. Overlapping area represents the amount of risk that can be diversified away by holding Yindu Kitchen Equipment and SI TECH Information Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on SI TECH Information and Yindu Kitchen 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 Yindu Kitchen Equipment are associated (or correlated) with SI TECH. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SI TECH Information has no effect on the direction of Yindu Kitchen i.e., Yindu Kitchen and SI TECH go up and down completely randomly.
Pair Corralation between Yindu Kitchen and SI TECH
Assuming the 90 days trading horizon Yindu Kitchen Equipment is expected to generate 0.47 times more return on investment than SI TECH. However, Yindu Kitchen Equipment is 2.14 times less risky than SI TECH. It trades about 0.01 of its potential returns per unit of risk. SI TECH Information Technology is currently generating about 0.0 per unit of risk. If you would invest 2,582 in Yindu Kitchen Equipment on October 30, 2024 and sell it today you would lose (17.00) from holding Yindu Kitchen Equipment or give up 0.66% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yindu Kitchen Equipment vs. SI TECH Information Technology
Performance |
| Timeline |
| Yindu Kitchen Equipment |
| SI TECH Information |
Yindu Kitchen and SI TECH Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yindu Kitchen and SI TECH
The main advantage of trading using opposite Yindu Kitchen and SI TECH positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yindu Kitchen position performs unexpectedly, SI TECH 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 SI TECH will offset losses from the drop in SI TECH's long position.| Yindu Kitchen vs. Shanghai Shuixing Home | Yindu Kitchen vs. Soyea Technology Co | Yindu Kitchen vs. Jiujiang Shanshui Technology | Yindu Kitchen vs. Jiugui Liquor Co |
| SI TECH vs. Sino Platinum Metals Co | SI TECH vs. Anhui Transport Consulting | SI TECH vs. Jiangsu Jinling Sports | SI TECH vs. Chongqing Shunbo Aluminum |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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