Correlation Between Tieling Newcity and YiDong Electronics
Specify exactly 2 symbols:
By analyzing existing cross correlation between Tieling Newcity Investment and YiDong Electronics Technology, you can compare the effects of market volatilities on Tieling Newcity and YiDong Electronics 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 Tieling Newcity with a short position of YiDong Electronics. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tieling Newcity and YiDong Electronics.
Diversification Opportunities for Tieling Newcity and YiDong Electronics
-0.47 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Tieling and YiDong is -0.47. Overlapping area represents the amount of risk that can be diversified away by holding Tieling Newcity Investment and YiDong Electronics Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on YiDong Electronics and Tieling Newcity 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 Tieling Newcity Investment are associated (or correlated) with YiDong Electronics. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of YiDong Electronics has no effect on the direction of Tieling Newcity i.e., Tieling Newcity and YiDong Electronics go up and down completely randomly.
Pair Corralation between Tieling Newcity and YiDong Electronics
Assuming the 90 days trading horizon Tieling Newcity Investment is expected to under-perform the YiDong Electronics. But the stock apears to be less risky and, when comparing its historical volatility, Tieling Newcity Investment is 1.47 times less risky than YiDong Electronics. The stock trades about -0.03 of its potential returns per unit of risk. The YiDong Electronics Technology is currently generating about 0.07 of returns per unit of risk over similar time horizon. If you would invest 4,097 in YiDong Electronics Technology on September 10, 2025 and sell it today you would earn a total of 512.00 from holding YiDong Electronics Technology or generate 12.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Tieling Newcity Investment vs. YiDong Electronics Technology
Performance |
| Timeline |
| Tieling Newcity Inve |
| YiDong Electronics |
Tieling Newcity and YiDong Electronics Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Tieling Newcity and YiDong Electronics
The main advantage of trading using opposite Tieling Newcity and YiDong Electronics positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tieling Newcity position performs unexpectedly, YiDong Electronics 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 YiDong Electronics will offset losses from the drop in YiDong Electronics' long position.| Tieling Newcity vs. Dook Media Group | Tieling Newcity vs. Harvest Fund Management | Tieling Newcity vs. Innovative Medical Management | Tieling Newcity vs. Shandong Publishing Media |
| YiDong Electronics vs. Shanghai Ziyan Foods | YiDong Electronics vs. Gan Yuan Foods | YiDong Electronics vs. Jiangsu Hoperun Software | YiDong Electronics vs. Guilin Seamild Foods |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
Other Complementary Tools
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| AI Portfolio Prophet Use AI to generate optimal portfolios and find profitable investment opportunities | |
| Analyst Advice Analyst recommendations and target price estimates broken down by several categories | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Portfolio Analyzer Portfolio analysis module that provides access to portfolio diagnostics and optimization engine |