Correlation Between Yuanta Daily and Yuanta 10
Specify exactly 2 symbols:
By analyzing existing cross correlation between Yuanta Daily CSI and Yuanta 10 Investment, you can compare the effects of market volatilities on Yuanta Daily and Yuanta 10 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 Yuanta Daily with a short position of Yuanta 10. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yuanta Daily and Yuanta 10.
Diversification Opportunities for Yuanta Daily and Yuanta 10
-0.36 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Yuanta and Yuanta is -0.36. Overlapping area represents the amount of risk that can be diversified away by holding Yuanta Daily CSI and Yuanta 10 Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yuanta 10 Investment and Yuanta Daily 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 Yuanta Daily CSI are associated (or correlated) with Yuanta 10. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yuanta 10 Investment has no effect on the direction of Yuanta Daily i.e., Yuanta Daily and Yuanta 10 go up and down completely randomly.
Pair Corralation between Yuanta Daily and Yuanta 10
Assuming the 90 days trading horizon Yuanta Daily CSI is expected to generate 8.55 times more return on investment than Yuanta 10. However, Yuanta Daily is 8.55 times more volatile than Yuanta 10 Investment. It trades about 0.13 of its potential returns per unit of risk. Yuanta 10 Investment is currently generating about -0.05 per unit of risk. If you would invest 1,148 in Yuanta Daily CSI on September 15, 2024 and sell it today you would earn a total of 476.00 from holding Yuanta Daily CSI or generate 41.46% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 100.0% |
Values | Daily Returns |
Yuanta Daily CSI vs. Yuanta 10 Investment
Performance |
Timeline |
Yuanta Daily CSI |
Yuanta 10 Investment |
Yuanta Daily and Yuanta 10 Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Yuanta Daily and Yuanta 10
The main advantage of trading using opposite Yuanta Daily and Yuanta 10 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yuanta Daily position performs unexpectedly, Yuanta 10 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 Yuanta 10 will offset losses from the drop in Yuanta 10's long position.Yuanta Daily vs. YuantaP shares Taiwan Top | Yuanta Daily vs. Yuanta Daily Taiwan | Yuanta Daily vs. Cathay Taiwan 5G | Yuanta Daily vs. Cathay Sustainability High |
Yuanta 10 vs. YuantaP shares Taiwan Top | Yuanta 10 vs. Yuanta Daily Taiwan | Yuanta 10 vs. Cathay Taiwan 5G | Yuanta 10 vs. Yuanta Daily CSI |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
Other Complementary Tools
Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities | |
Portfolio Rebalancing Analyze risk-adjusted returns against different time horizons to find asset-allocation targets | |
Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
Efficient Frontier Plot and analyze your portfolio and positions against risk-return landscape of the market. |