Correlation Between Youyou Foods and Easyhome New
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By analyzing existing cross correlation between Youyou Foods Co and Easyhome New Retail, you can compare the effects of market volatilities on Youyou Foods and Easyhome New 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 Youyou Foods with a short position of Easyhome New. Check out your portfolio center. Please also check ongoing floating volatility patterns of Youyou Foods and Easyhome New.
Diversification Opportunities for Youyou Foods and Easyhome New
0.45 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Youyou and Easyhome is 0.45. Overlapping area represents the amount of risk that can be diversified away by holding Youyou Foods Co and Easyhome New Retail in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Easyhome New Retail and Youyou Foods 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 Youyou Foods Co are associated (or correlated) with Easyhome New. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Easyhome New Retail has no effect on the direction of Youyou Foods i.e., Youyou Foods and Easyhome New go up and down completely randomly.
Pair Corralation between Youyou Foods and Easyhome New
Assuming the 90 days trading horizon Youyou Foods Co is expected to generate 0.51 times more return on investment than Easyhome New. However, Youyou Foods Co is 1.96 times less risky than Easyhome New. It trades about -0.09 of its potential returns per unit of risk. Easyhome New Retail is currently generating about -0.06 per unit of risk. If you would invest 1,047 in Youyou Foods Co on October 25, 2024 and sell it today you would lose (54.00) from holding Youyou Foods Co or give up 5.16% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Youyou Foods Co vs. Easyhome New Retail
Performance |
| Timeline |
| Youyou Foods |
| Easyhome New Retail |
Youyou Foods and Easyhome New Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Youyou Foods and Easyhome New
The main advantage of trading using opposite Youyou Foods and Easyhome New positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Youyou Foods position performs unexpectedly, Easyhome New 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 Easyhome New will offset losses from the drop in Easyhome New's long position.| Youyou Foods vs. Agricultural Bank of | Youyou Foods vs. Postal Savings Bank | Youyou Foods vs. Bank of Communications | Youyou Foods vs. China Merchants Bank |
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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 Sectors module to list of equity sectors categorizing publicly traded companies based on their primary business activities.
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