Correlation Between Yuanli Chemical and Hawkins
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By analyzing existing cross correlation between Yuanli Chemical Group and Hawkins, you can compare the effects of market volatilities on Yuanli Chemical and Hawkins 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 Yuanli Chemical with a short position of Hawkins. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yuanli Chemical and Hawkins.
Diversification Opportunities for Yuanli Chemical and Hawkins
-0.29 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Yuanli and Hawkins is -0.29. Overlapping area represents the amount of risk that can be diversified away by holding Yuanli Chemical Group and Hawkins in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Hawkins and Yuanli Chemical 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 Yuanli Chemical Group are associated (or correlated) with Hawkins. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Hawkins has no effect on the direction of Yuanli Chemical i.e., Yuanli Chemical and Hawkins go up and down completely randomly.
Pair Corralation between Yuanli Chemical and Hawkins
Assuming the 90 days trading horizon Yuanli Chemical Group is expected to under-perform the Hawkins. In addition to that, Yuanli Chemical is 1.05 times more volatile than Hawkins. It trades about -0.17 of its total potential returns per unit of risk. Hawkins is currently generating about 0.21 per unit of volatility. If you would invest 13,925 in Hawkins on October 10, 2025 and sell it today you would earn a total of 874.00 from holding Hawkins or generate 6.28% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Yuanli Chemical Group vs. Hawkins
Performance |
| Timeline |
| Yuanli Chemical Group |
| Hawkins |
Yuanli Chemical and Hawkins Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yuanli Chemical and Hawkins
The main advantage of trading using opposite Yuanli Chemical and Hawkins positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yuanli Chemical position performs unexpectedly, Hawkins 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 Hawkins will offset losses from the drop in Hawkins' long position.| Yuanli Chemical vs. Bonree Data Technology | Yuanli Chemical vs. Westone Information Industry | Yuanli Chemical vs. Lander Sports Development | Yuanli Chemical vs. Xinjiang Sailing Information |
| Hawkins vs. Dow Inc | Hawkins vs. Dupont De Nemours | Hawkins vs. International Flavors Fragrances | Hawkins vs. Sociedad Quimica y |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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