Correlation Between Hubei Yingtong and AudioCodes
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By analyzing existing cross correlation between Hubei Yingtong Telecommunication and AudioCodes, you can compare the effects of market volatilities on Hubei Yingtong and AudioCodes 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 Hubei Yingtong with a short position of AudioCodes. Check out your portfolio center. Please also check ongoing floating volatility patterns of Hubei Yingtong and AudioCodes.
Diversification Opportunities for Hubei Yingtong and AudioCodes
-0.42 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Hubei and AudioCodes is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding Hubei Yingtong Telecommunicati and AudioCodes in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AudioCodes and Hubei Yingtong 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 Hubei Yingtong Telecommunication are associated (or correlated) with AudioCodes. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AudioCodes has no effect on the direction of Hubei Yingtong i.e., Hubei Yingtong and AudioCodes go up and down completely randomly.
Pair Corralation between Hubei Yingtong and AudioCodes
Assuming the 90 days trading horizon Hubei Yingtong Telecommunication is expected to generate 1.33 times more return on investment than AudioCodes. However, Hubei Yingtong is 1.33 times more volatile than AudioCodes. It trades about 0.17 of its potential returns per unit of risk. AudioCodes is currently generating about -0.01 per unit of risk. If you would invest 1,573 in Hubei Yingtong Telecommunication on August 13, 2025 and sell it today you would earn a total of 423.00 from holding Hubei Yingtong Telecommunication or generate 26.89% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 92.06% |
| Values | Daily Returns |
Hubei Yingtong Telecommunicati vs. AudioCodes
Performance |
| Timeline |
| Hubei Yingtong Telec |
| AudioCodes |
Hubei Yingtong and AudioCodes Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Hubei Yingtong and AudioCodes
The main advantage of trading using opposite Hubei Yingtong and AudioCodes positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Hubei Yingtong position performs unexpectedly, AudioCodes 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 AudioCodes will offset losses from the drop in AudioCodes' long position.| Hubei Yingtong vs. PetroChina Co Ltd | Hubei Yingtong vs. Industrial and Commercial | Hubei Yingtong vs. China Construction Bank | Hubei Yingtong vs. China Petroleum Chemical |
| AudioCodes vs. BK Technologies | AudioCodes vs. Ceragon Networks | AudioCodes vs. Inseego Corp | AudioCodes vs. Vuzix Corp Cmn |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
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