Correlation Between Gap, and Yik Wo
Can any of the company-specific risk be diversified away by investing in both Gap, and Yik Wo at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Gap, and Yik Wo into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between The Gap, and Yik Wo International, you can compare the effects of market volatilities on Gap, and Yik Wo 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 Gap, with a short position of Yik Wo. Check out your portfolio center. Please also check ongoing floating volatility patterns of Gap, and Yik Wo.
Diversification Opportunities for Gap, and Yik Wo
Pay attention - limited upside
The 3 months correlation between Gap, and Yik is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding The Gap, and Yik Wo International in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yik Wo International and Gap, 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 The Gap, are associated (or correlated) with Yik Wo. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yik Wo International has no effect on the direction of Gap, i.e., Gap, and Yik Wo go up and down completely randomly.
Pair Corralation between Gap, and Yik Wo
If you would invest 2,234 in The Gap, on September 14, 2024 and sell it today you would earn a total of 184.00 from holding The Gap, or generate 8.24% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.76% |
| Values | Daily Returns |
The Gap, vs. Yik Wo International
Performance |
| Timeline |
| Gap, |
| Yik Wo International |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Gap, and Yik Wo Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Gap, and Yik Wo
The main advantage of trading using opposite Gap, and Yik Wo positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Gap, position performs unexpectedly, Yik Wo 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 Yik Wo will offset losses from the drop in Yik Wo's long position.| Gap, vs. Mesa Air Group | Gap, vs. Southwest Airlines | Gap, vs. Brenmiller Energy Ltd | Gap, vs. Delta Air Lines |
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 Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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