Correlation Between Sichuan Yahua and Westlake Chemical
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By analyzing existing cross correlation between Sichuan Yahua Industrial and Westlake Chemical Partners, you can compare the effects of market volatilities on Sichuan Yahua and Westlake Chemical 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 Sichuan Yahua with a short position of Westlake Chemical. Check out your portfolio center. Please also check ongoing floating volatility patterns of Sichuan Yahua and Westlake Chemical.
Diversification Opportunities for Sichuan Yahua and Westlake Chemical
-0.73 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Sichuan and Westlake is -0.73. Overlapping area represents the amount of risk that can be diversified away by holding Sichuan Yahua Industrial and Westlake Chemical Partners in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Westlake Chemical and Sichuan Yahua 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 Sichuan Yahua Industrial are associated (or correlated) with Westlake Chemical. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Westlake Chemical has no effect on the direction of Sichuan Yahua i.e., Sichuan Yahua and Westlake Chemical go up and down completely randomly.
Pair Corralation between Sichuan Yahua and Westlake Chemical
Assuming the 90 days trading horizon Sichuan Yahua Industrial is expected to generate 2.89 times more return on investment than Westlake Chemical. However, Sichuan Yahua is 2.89 times more volatile than Westlake Chemical Partners. It trades about 0.22 of its potential returns per unit of risk. Westlake Chemical Partners is currently generating about -0.09 per unit of risk. If you would invest 1,508 in Sichuan Yahua Industrial on October 6, 2025 and sell it today you would earn a total of 967.00 from holding Sichuan Yahua Industrial or generate 64.12% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 96.83% |
| Values | Daily Returns |
Sichuan Yahua Industrial vs. Westlake Chemical Partners
Performance |
| Timeline |
| Sichuan Yahua Industrial |
| Westlake Chemical |
Sichuan Yahua and Westlake Chemical Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Sichuan Yahua and Westlake Chemical
The main advantage of trading using opposite Sichuan Yahua and Westlake Chemical positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Sichuan Yahua position performs unexpectedly, Westlake Chemical 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 Westlake Chemical will offset losses from the drop in Westlake Chemical's long position.| Sichuan Yahua vs. Zijin Mining Group | Sichuan Yahua vs. Wanhua Chemical Group | Sichuan Yahua vs. Shandong Gold Mining | Sichuan Yahua vs. Baoshan Iron Steel |
| Westlake Chemical vs. Green Plains Renewable | Westlake Chemical vs. Cementos Pacasmayo SAA | Westlake Chemical vs. Oil Dri | Westlake Chemical vs. Lsb Industries |
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 Portfolio Comparator module to compare the composition, asset allocations and performance of any two portfolios in your account.
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