Correlation Between Surf Air and YTO Express
Can any of the company-specific risk be diversified away by investing in both Surf Air and YTO Express 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 Surf Air and YTO Express into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Surf Air Mobility and YTO Express Holdings, you can compare the effects of market volatilities on Surf Air and YTO Express 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 Surf Air with a short position of YTO Express. Check out your portfolio center. Please also check ongoing floating volatility patterns of Surf Air and YTO Express.
Diversification Opportunities for Surf Air and YTO Express
0.69 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Surf and YTO is 0.69. Overlapping area represents the amount of risk that can be diversified away by holding Surf Air Mobility and YTO Express Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on YTO Express Holdings and Surf Air 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 Surf Air Mobility are associated (or correlated) with YTO Express. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of YTO Express Holdings has no effect on the direction of Surf Air i.e., Surf Air and YTO Express go up and down completely randomly.
Pair Corralation between Surf Air and YTO Express
Given the investment horizon of 90 days Surf Air Mobility is expected to under-perform the YTO Express. But the stock apears to be less risky and, when comparing its historical volatility, Surf Air Mobility is 1.75 times less risky than YTO Express. The stock trades about -0.22 of its potential returns per unit of risk. The YTO Express Holdings is currently generating about -0.12 of returns per unit of risk over similar time horizon. If you would invest 40.00 in YTO Express Holdings on September 2, 2025 and sell it today you would lose (26.00) from holding YTO Express Holdings or give up 65.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 98.46% |
| Values | Daily Returns |
Surf Air Mobility vs. YTO Express Holdings
Performance |
| Timeline |
| Surf Air Mobility |
| YTO Express Holdings |
Surf Air and YTO Express Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Surf Air and YTO Express
The main advantage of trading using opposite Surf Air and YTO Express positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Surf Air position performs unexpectedly, YTO Express 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 YTO Express will offset losses from the drop in YTO Express' long position.| Surf Air vs. Thai Beverage PCL | Surf Air vs. Nicola Mining | Surf Air vs. Aerofoam Metals | Surf Air vs. Marimaca Copper Corp |
| YTO Express vs. United Microelectronics | YTO Express vs. Tel Instrument Electronics Corp | YTO Express vs. Nissan Chemical | YTO Express vs. Renesas Electronics |
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 FinTech Suite module to use AI to screen and filter profitable investment opportunities.
Other Complementary Tools
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Portfolio File Import Quickly import all of your third-party portfolios from your local drive in csv format | |
| Options Analysis Analyze and evaluate options and option chains as a potential hedge for your portfolios | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings |