Correlation Between Yindu Kitchen and Iat Automobile
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By analyzing existing cross correlation between Yindu Kitchen Equipment and Iat Automobile Technology, you can compare the effects of market volatilities on Yindu Kitchen and Iat Automobile 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 Iat Automobile. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yindu Kitchen and Iat Automobile.
Diversification Opportunities for Yindu Kitchen and Iat Automobile
-0.23 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Yindu and Iat is -0.23. Overlapping area represents the amount of risk that can be diversified away by holding Yindu Kitchen Equipment and Iat Automobile Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Iat Automobile Technology 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 Iat Automobile. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Iat Automobile Technology has no effect on the direction of Yindu Kitchen i.e., Yindu Kitchen and Iat Automobile go up and down completely randomly.
Pair Corralation between Yindu Kitchen and Iat Automobile
Assuming the 90 days trading horizon Yindu Kitchen Equipment is expected to generate 0.57 times more return on investment than Iat Automobile. However, Yindu Kitchen Equipment is 1.74 times less risky than Iat Automobile. It trades about 0.05 of its potential returns per unit of risk. Iat Automobile Technology is currently generating about 0.03 per unit of risk. If you would invest 1,626 in Yindu Kitchen Equipment on September 14, 2024 and sell it today you would earn a total of 819.00 from holding Yindu Kitchen Equipment or generate 50.37% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yindu Kitchen Equipment vs. Iat Automobile Technology
Performance |
| Timeline |
| Yindu Kitchen Equipment |
| Iat Automobile Technology |
Yindu Kitchen and Iat Automobile Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yindu Kitchen and Iat Automobile
The main advantage of trading using opposite Yindu Kitchen and Iat Automobile positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yindu Kitchen position performs unexpectedly, Iat Automobile 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 Iat Automobile will offset losses from the drop in Iat Automobile's long position.| Yindu Kitchen vs. Industrial and Commercial | Yindu Kitchen vs. Kweichow Moutai Co | Yindu Kitchen vs. Agricultural Bank of | Yindu Kitchen vs. China Mobile Limited |
| Iat Automobile vs. Cofoe Medical Technology | Iat Automobile vs. China Asset Management | Iat Automobile vs. Vanfund Urban Investment | Iat Automobile vs. Zoje Resources Investment |
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 Anywhere module to track or share privately all of your investments from the convenience of any device.
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