Correlation Between Yuanjie Semiconductor and Guangzhou Haozhi
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By analyzing existing cross correlation between Yuanjie Semiconductor Technology and Guangzhou Haozhi Industrial, you can compare the effects of market volatilities on Yuanjie Semiconductor and Guangzhou Haozhi 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 Yuanjie Semiconductor with a short position of Guangzhou Haozhi. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yuanjie Semiconductor and Guangzhou Haozhi.
Diversification Opportunities for Yuanjie Semiconductor and Guangzhou Haozhi
-0.2 | Correlation Coefficient |
Good diversification
The 3 months correlation between Yuanjie and Guangzhou is -0.2. Overlapping area represents the amount of risk that can be diversified away by holding Yuanjie Semiconductor Technolo and Guangzhou Haozhi Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangzhou Haozhi Ind and Yuanjie Semiconductor 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 Yuanjie Semiconductor Technology are associated (or correlated) with Guangzhou Haozhi. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangzhou Haozhi Ind has no effect on the direction of Yuanjie Semiconductor i.e., Yuanjie Semiconductor and Guangzhou Haozhi go up and down completely randomly.
Pair Corralation between Yuanjie Semiconductor and Guangzhou Haozhi
Assuming the 90 days trading horizon Yuanjie Semiconductor Technology is expected to generate 0.96 times more return on investment than Guangzhou Haozhi. However, Yuanjie Semiconductor Technology is 1.05 times less risky than Guangzhou Haozhi. It trades about -0.05 of its potential returns per unit of risk. Guangzhou Haozhi Industrial is currently generating about -0.34 per unit of risk. If you would invest 14,449 in Yuanjie Semiconductor Technology on October 12, 2024 and sell it today you would lose (799.00) from holding Yuanjie Semiconductor Technology or give up 5.53% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yuanjie Semiconductor Technolo vs. Guangzhou Haozhi Industrial
Performance |
| Timeline |
| Yuanjie Semiconductor |
| Guangzhou Haozhi Ind |
Yuanjie Semiconductor and Guangzhou Haozhi Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yuanjie Semiconductor and Guangzhou Haozhi
The main advantage of trading using opposite Yuanjie Semiconductor and Guangzhou Haozhi positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yuanjie Semiconductor position performs unexpectedly, Guangzhou Haozhi 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 Guangzhou Haozhi will offset losses from the drop in Guangzhou Haozhi's long position.| Yuanjie Semiconductor vs. Dosilicon Co | Yuanjie Semiconductor vs. Liaoning Dingjide Petrochemical | Yuanjie Semiconductor vs. Jiangsu Financial Leasing | Yuanjie Semiconductor vs. HeNan Splendor Science |
| Guangzhou Haozhi vs. Union Semiconductor Co | Guangzhou Haozhi vs. Yuanjie Semiconductor Technology | Guangzhou Haozhi vs. Southchip Semiconductor Technology | Guangzhou Haozhi vs. StarPower Semiconductor |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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