Correlation Between China YiBai and Blockchain Industries
Can any of the company-specific risk be diversified away by investing in both China YiBai and Blockchain Industries at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining China YiBai and Blockchain Industries into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between China YiBai United and Blockchain Industries, you can compare the effects of market volatilities on China YiBai and Blockchain Industries 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 China YiBai with a short position of Blockchain Industries. Check out your portfolio center. Please also check ongoing floating volatility patterns of China YiBai and Blockchain Industries.
Diversification Opportunities for China YiBai and Blockchain Industries
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between China and Blockchain is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding China YiBai United and Blockchain Industries in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Blockchain Industries and China YiBai 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 China YiBai United are associated (or correlated) with Blockchain Industries. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Blockchain Industries has no effect on the direction of China YiBai i.e., China YiBai and Blockchain Industries go up and down completely randomly.
Pair Corralation between China YiBai and Blockchain Industries
Given the investment horizon of 90 days China YiBai is expected to generate 1.2 times less return on investment than Blockchain Industries. In addition to that, China YiBai is 2.31 times more volatile than Blockchain Industries. It trades about 0.06 of its total potential returns per unit of risk. Blockchain Industries is currently generating about 0.16 per unit of volatility. If you would invest 0.70 in Blockchain Industries on September 11, 2025 and sell it today you would earn a total of 1.00 from holding Blockchain Industries or generate 142.86% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 98.44% |
| Values | Daily Returns |
China YiBai United vs. Blockchain Industries
Performance |
| Timeline |
| China YiBai United |
| Blockchain Industries |
China YiBai and Blockchain Industries Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with China YiBai and Blockchain Industries
The main advantage of trading using opposite China YiBai and Blockchain Industries positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China YiBai position performs unexpectedly, Blockchain Industries 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 Blockchain Industries will offset losses from the drop in Blockchain Industries' long position.| China YiBai vs. PTS Inc | China YiBai vs. Absolute Health and | China YiBai vs. Blockchain Industries | China YiBai vs. Sulja Bros Building |
| Blockchain Industries vs. Legato Merger Corp | Blockchain Industries vs. Perimeter Acquisition Corp | Blockchain Industries vs. Graf Global Corp | Blockchain Industries vs. Launch One Acquisition |
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 Equity Search module to search for actively traded equities including funds and ETFs from over 30 global markets.
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