Correlation Between Youyou Foods and Emdoor Information
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By analyzing existing cross correlation between Youyou Foods Co and Emdoor Information Co, you can compare the effects of market volatilities on Youyou Foods and Emdoor Information 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 Emdoor Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Youyou Foods and Emdoor Information.
Diversification Opportunities for Youyou Foods and Emdoor Information
0.5 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Youyou and Emdoor is 0.5. Overlapping area represents the amount of risk that can be diversified away by holding Youyou Foods Co and Emdoor Information Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Emdoor Information 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 Emdoor Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Emdoor Information has no effect on the direction of Youyou Foods i.e., Youyou Foods and Emdoor Information go up and down completely randomly.
Pair Corralation between Youyou Foods and Emdoor Information
Assuming the 90 days trading horizon Youyou Foods Co is expected to generate 0.45 times more return on investment than Emdoor Information. However, Youyou Foods Co is 2.25 times less risky than Emdoor Information. It trades about -0.03 of its potential returns per unit of risk. Emdoor Information Co is currently generating about -0.07 per unit of risk. If you would invest 1,018 in Youyou Foods Co on October 28, 2024 and sell it today you would lose (21.00) from holding Youyou Foods Co or give up 2.06% 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. Emdoor Information Co
Performance |
| Timeline |
| Youyou Foods |
| Emdoor Information |
Youyou Foods and Emdoor Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Youyou Foods and Emdoor Information
The main advantage of trading using opposite Youyou Foods and Emdoor Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Youyou Foods position performs unexpectedly, Emdoor Information 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 Emdoor Information will offset losses from the drop in Emdoor Information's long position.| Youyou Foods vs. Kweichow Moutai Co | Youyou Foods vs. Contemporary Amperex Technology | Youyou Foods vs. G bits Network Technology | Youyou Foods vs. Beijing Roborock Technology |
| Emdoor Information vs. Beijing Bewinner Communications | Emdoor Information vs. Jiangsu Broadcasting Cable | Emdoor Information vs. Bank of Communications | Emdoor Information vs. Railway Signal Communication |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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