Correlation Between Shanghai Yaoji and UE Furniture
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By analyzing existing cross correlation between Shanghai Yaoji Playing and UE Furniture Co, you can compare the effects of market volatilities on Shanghai Yaoji and UE Furniture 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 Shanghai Yaoji with a short position of UE Furniture. Check out your portfolio center. Please also check ongoing floating volatility patterns of Shanghai Yaoji and UE Furniture.
Diversification Opportunities for Shanghai Yaoji and UE Furniture
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Shanghai and 603600 is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Shanghai Yaoji Playing and UE Furniture Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on UE Furniture and Shanghai Yaoji 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 Shanghai Yaoji Playing are associated (or correlated) with UE Furniture. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of UE Furniture has no effect on the direction of Shanghai Yaoji i.e., Shanghai Yaoji and UE Furniture go up and down completely randomly.
Pair Corralation between Shanghai Yaoji and UE Furniture
Assuming the 90 days trading horizon Shanghai Yaoji Playing is expected to under-perform the UE Furniture. In addition to that, Shanghai Yaoji is 1.13 times more volatile than UE Furniture Co. It trades about -0.06 of its total potential returns per unit of risk. UE Furniture Co is currently generating about 0.03 per unit of volatility. If you would invest 1,088 in UE Furniture Co on July 20, 2025 and sell it today you would earn a total of 23.00 from holding UE Furniture Co or generate 2.11% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Shanghai Yaoji Playing vs. UE Furniture Co
Performance |
| Timeline |
| Shanghai Yaoji Playing |
| UE Furniture |
Shanghai Yaoji and UE Furniture Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Shanghai Yaoji and UE Furniture
The main advantage of trading using opposite Shanghai Yaoji and UE Furniture positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Shanghai Yaoji position performs unexpectedly, UE Furniture 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 UE Furniture will offset losses from the drop in UE Furniture's long position.| Shanghai Yaoji vs. Jiangsu Financial Leasing | Shanghai Yaoji vs. Lier Chemical Co | Shanghai Yaoji vs. Jiangsu Jinling Sports | Shanghai Yaoji vs. Dazhong Transportation Group |
| UE Furniture vs. Giantec Semiconductor Corp | UE Furniture vs. Jinhe Biotechnology Co | UE Furniture vs. Union Semiconductor Co | UE Furniture vs. Shenzhen Bioeasy Biotechnology |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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