Correlation Between TongFu Microelectronics and Zhejiang Yueling
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By analyzing existing cross correlation between TongFu Microelectronics Co and Zhejiang Yueling Co, you can compare the effects of market volatilities on TongFu Microelectronics and Zhejiang Yueling 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 TongFu Microelectronics with a short position of Zhejiang Yueling. Check out your portfolio center. Please also check ongoing floating volatility patterns of TongFu Microelectronics and Zhejiang Yueling.
Diversification Opportunities for TongFu Microelectronics and Zhejiang Yueling
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between TongFu and Zhejiang is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding TongFu Microelectronics Co and Zhejiang Yueling Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Zhejiang Yueling and TongFu Microelectronics 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 TongFu Microelectronics Co are associated (or correlated) with Zhejiang Yueling. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Zhejiang Yueling has no effect on the direction of TongFu Microelectronics i.e., TongFu Microelectronics and Zhejiang Yueling go up and down completely randomly.
Pair Corralation between TongFu Microelectronics and Zhejiang Yueling
If you would invest (100.00) in Zhejiang Yueling Co on September 8, 2025 and sell it today you would earn a total of 100.00 from holding Zhejiang Yueling Co or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
TongFu Microelectronics Co vs. Zhejiang Yueling Co
Performance |
| Timeline |
| TongFu Microelectronics |
| Zhejiang Yueling |
Risk-Adjusted Performance
Weakest
Weak | Strong |
TongFu Microelectronics and Zhejiang Yueling Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with TongFu Microelectronics and Zhejiang Yueling
The main advantage of trading using opposite TongFu Microelectronics and Zhejiang Yueling positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if TongFu Microelectronics position performs unexpectedly, Zhejiang Yueling 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 Zhejiang Yueling will offset losses from the drop in Zhejiang Yueling's long position.| TongFu Microelectronics vs. Ming Yang Smart | TongFu Microelectronics vs. 159681 | TongFu Microelectronics vs. 159005 | TongFu Microelectronics vs. Loctek Ergonomic Technology |
| Zhejiang Yueling vs. Shanghai Shuixing Home | Zhejiang Yueling vs. A Zenith Home Furnishings | Zhejiang Yueling vs. Huasi Agricultural Development | Zhejiang Yueling vs. UE Furniture Co |
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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