Correlation Between Yantai North and BTG Hotels
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By analyzing existing cross correlation between Yantai North Andre and BTG Hotels Group, you can compare the effects of market volatilities on Yantai North and BTG Hotels 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 Yantai North with a short position of BTG Hotels. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yantai North and BTG Hotels.
Diversification Opportunities for Yantai North and BTG Hotels
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Yantai and BTG is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding Yantai North Andre and BTG Hotels Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on BTG Hotels Group and Yantai North 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 Yantai North Andre are associated (or correlated) with BTG Hotels. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of BTG Hotels Group has no effect on the direction of Yantai North i.e., Yantai North and BTG Hotels go up and down completely randomly.
Pair Corralation between Yantai North and BTG Hotels
Assuming the 90 days trading horizon Yantai North Andre is expected to under-perform the BTG Hotels. In addition to that, Yantai North is 1.23 times more volatile than BTG Hotels Group. It trades about -0.01 of its total potential returns per unit of risk. BTG Hotels Group is currently generating about 0.01 per unit of volatility. If you would invest 1,438 in BTG Hotels Group on August 29, 2024 and sell it today you would earn a total of 7.00 from holding BTG Hotels Group or generate 0.49% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yantai North Andre vs. BTG Hotels Group
Performance |
| Timeline |
| Yantai North Andre |
| BTG Hotels Group |
Yantai North and BTG Hotels Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yantai North and BTG Hotels
The main advantage of trading using opposite Yantai North and BTG Hotels positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yantai North position performs unexpectedly, BTG Hotels 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 BTG Hotels will offset losses from the drop in BTG Hotels' long position.| Yantai North vs. Industrial and Commercial | Yantai North vs. Kweichow Moutai Co | Yantai North vs. Agricultural Bank of | Yantai North vs. China Mobile Limited |
| BTG Hotels vs. Biwin Storage Technology | BTG Hotels vs. PetroChina Co Ltd | BTG Hotels vs. Industrial and Commercial | BTG Hotels vs. China Construction Bank |
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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