Correlation Between LandBridge Company and Yunji
Can any of the company-specific risk be diversified away by investing in both LandBridge Company and Yunji 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 LandBridge Company and Yunji into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between LandBridge Company LLC and Yunji Inc, you can compare the effects of market volatilities on LandBridge Company and Yunji 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 LandBridge Company with a short position of Yunji. Check out your portfolio center. Please also check ongoing floating volatility patterns of LandBridge Company and Yunji.
Diversification Opportunities for LandBridge Company and Yunji
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between LandBridge and Yunji is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding LandBridge Company LLC and Yunji Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yunji Inc and LandBridge Company 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 LandBridge Company LLC are associated (or correlated) with Yunji. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yunji Inc has no effect on the direction of LandBridge Company i.e., LandBridge Company and Yunji go up and down completely randomly.
Pair Corralation between LandBridge Company and Yunji
Allowing for the 90-day total investment horizon LandBridge Company LLC is expected to under-perform the Yunji. In addition to that, LandBridge Company is 1.54 times more volatile than Yunji Inc. It trades about -0.02 of its total potential returns per unit of risk. Yunji Inc is currently generating about 0.1 per unit of volatility. If you would invest 165.00 in Yunji Inc on November 18, 2024 and sell it today you would earn a total of 11.00 from holding Yunji Inc or generate 6.67% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
LandBridge Company LLC vs. Yunji Inc
Performance |
| Timeline |
| LandBridge Company |
| Yunji Inc |
LandBridge Company and Yunji Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with LandBridge Company and Yunji
The main advantage of trading using opposite LandBridge Company and Yunji positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if LandBridge Company position performs unexpectedly, Yunji 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 Yunji will offset losses from the drop in Yunji's long position.| LandBridge Company vs. Xtant Medical Holdings | LandBridge Company vs. Integrated Media Technology | LandBridge Company vs. Alvotech | LandBridge Company vs. Playstudios |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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