Correlation Between DouYu International and Ziprecruiter
Can any of the company-specific risk be diversified away by investing in both DouYu International and Ziprecruiter 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 DouYu International and Ziprecruiter into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between DouYu International Holdings and Ziprecruiter, you can compare the effects of market volatilities on DouYu International and Ziprecruiter 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 DouYu International with a short position of Ziprecruiter. Check out your portfolio center. Please also check ongoing floating volatility patterns of DouYu International and Ziprecruiter.
Diversification Opportunities for DouYu International and Ziprecruiter
-0.57 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between DouYu and Ziprecruiter is -0.57. Overlapping area represents the amount of risk that can be diversified away by holding DouYu International Holdings and Ziprecruiter in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ziprecruiter and DouYu International 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 DouYu International Holdings are associated (or correlated) with Ziprecruiter. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ziprecruiter has no effect on the direction of DouYu International i.e., DouYu International and Ziprecruiter go up and down completely randomly.
Pair Corralation between DouYu International and Ziprecruiter
Given the investment horizon of 90 days DouYu International Holdings is expected to generate 0.84 times more return on investment than Ziprecruiter. However, DouYu International Holdings is 1.19 times less risky than Ziprecruiter. It trades about 0.08 of its potential returns per unit of risk. Ziprecruiter is currently generating about -0.04 per unit of risk. If you would invest 659.00 in DouYu International Holdings on June 2, 2025 and sell it today you would earn a total of 113.00 from holding DouYu International Holdings or generate 17.15% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
DouYu International Holdings vs. Ziprecruiter
Performance |
| Timeline |
| DouYu International |
| Ziprecruiter |
DouYu International and Ziprecruiter Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with DouYu International and Ziprecruiter
The main advantage of trading using opposite DouYu International and Ziprecruiter positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if DouYu International position performs unexpectedly, Ziprecruiter 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 Ziprecruiter will offset losses from the drop in Ziprecruiter's long position.| DouYu International vs. Hello Group | DouYu International vs. Tencent Music Entertainment | DouYu International vs. Zhihu Inc ADR | DouYu International vs. Weibo Corp |
| Ziprecruiter vs. TrueBlue | Ziprecruiter vs. Kelly Services A | Ziprecruiter vs. TriNet Group | Ziprecruiter vs. ManpowerGroup |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
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