Correlation Between YHN Acquisition and International Media
Can any of the company-specific risk be diversified away by investing in both YHN Acquisition and International Media 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 YHN Acquisition and International Media into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between YHN Acquisition I and International Media Acquisition, you can compare the effects of market volatilities on YHN Acquisition and International Media 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 YHN Acquisition with a short position of International Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of YHN Acquisition and International Media.
Diversification Opportunities for YHN Acquisition and International Media
-0.09 | Correlation Coefficient |
Good diversification
The 3 months correlation between YHN and International is -0.09. Overlapping area represents the amount of risk that can be diversified away by holding YHN Acquisition I and International Media Acquisitio in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on International Media and YHN Acquisition 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 YHN Acquisition I are associated (or correlated) with International Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of International Media has no effect on the direction of YHN Acquisition i.e., YHN Acquisition and International Media go up and down completely randomly.
Pair Corralation between YHN Acquisition and International Media
If you would invest 1,015 in YHN Acquisition I on November 1, 2024 and sell it today you would earn a total of 32.00 from holding YHN Acquisition I or generate 3.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 5.0% |
| Values | Daily Returns |
YHN Acquisition I vs. International Media Acquisitio
Performance |
| Timeline |
| YHN Acquisition I |
| International Media |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
YHN Acquisition and International Media Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with YHN Acquisition and International Media
The main advantage of trading using opposite YHN Acquisition and International Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if YHN Acquisition position performs unexpectedly, International Media 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 International Media will offset losses from the drop in International Media's long position.| YHN Acquisition vs. Voyager Acquisition Corp | YHN Acquisition vs. YHN Acquisition I | YHN Acquisition vs. CO2 Energy Transition | YHN Acquisition vs. Vine Hill Capital |
| International Media vs. Wizz Air Holdings | International Media vs. Asure Software | International Media vs. National Storage REIT | International Media vs. Fair Isaac |
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 Cryptocurrency Center module to build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency.
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