Correlation Between Yuexiu Transport and KROGER
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By analyzing existing cross correlation between Yuexiu Transport Infrastructure and KROGER 445 percent, you can compare the effects of market volatilities on Yuexiu Transport and KROGER 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 Yuexiu Transport with a short position of KROGER. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yuexiu Transport and KROGER.
Diversification Opportunities for Yuexiu Transport and KROGER
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Yuexiu and KROGER is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding Yuexiu Transport Infrastructur and KROGER 445 percent in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on KROGER 445 percent and Yuexiu Transport 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 Yuexiu Transport Infrastructure are associated (or correlated) with KROGER. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of KROGER 445 percent has no effect on the direction of Yuexiu Transport i.e., Yuexiu Transport and KROGER go up and down completely randomly.
Pair Corralation between Yuexiu Transport and KROGER
Assuming the 90 days horizon Yuexiu Transport Infrastructure is expected to generate 5.6 times more return on investment than KROGER. However, Yuexiu Transport is 5.6 times more volatile than KROGER 445 percent. It trades about 0.23 of its potential returns per unit of risk. KROGER 445 percent is currently generating about 0.13 per unit of risk. If you would invest 45.00 in Yuexiu Transport Infrastructure on August 31, 2024 and sell it today you would earn a total of 13.00 from holding Yuexiu Transport Infrastructure or generate 28.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 81.82% |
| Values | Daily Returns |
Yuexiu Transport Infrastructur vs. KROGER 445 percent
Performance |
| Timeline |
| Yuexiu Transport Inf |
| KROGER 445 percent |
Yuexiu Transport and KROGER Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yuexiu Transport and KROGER
The main advantage of trading using opposite Yuexiu Transport and KROGER positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yuexiu Transport position performs unexpectedly, KROGER 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 KROGER will offset losses from the drop in KROGER's long position.| Yuexiu Transport vs. Verra Mobility Corp | Yuexiu Transport vs. HUMANA INC | Yuexiu Transport vs. SCOR PK | Yuexiu Transport vs. Aquagold International |
| KROGER vs. Yuexiu Transport Infrastructure | KROGER vs. Dominos Pizza | KROGER vs. BJs Restaurants | KROGER vs. Bt Brands |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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