Correlation Between Youxin Technology and Axcelis Technologies

Can any of the company-specific risk be diversified away by investing in both Youxin Technology and Axcelis Technologies 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 Youxin Technology and Axcelis Technologies into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between Youxin Technology Ltd and Axcelis Technologies, you can compare the effects of market volatilities on Youxin Technology and Axcelis Technologies 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 Youxin Technology with a short position of Axcelis Technologies. Check out your portfolio center. Please also check ongoing floating volatility patterns of Youxin Technology and Axcelis Technologies.

Diversification Opportunities for Youxin Technology and Axcelis Technologies

-0.52

Correlation Coefficient

Youxin Technology  Axcelis Technologies

Excellent diversification

The 3 months correlation between Youxin and Axcelis is -0.52. Overlapping area represents the amount of risk that can be diversified away by holding Youxin Technology Ltd and Axcelis Technologies in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Axcelis Technologies and Youxin Technology 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 Youxin Technology Ltd are associated (or correlated) with Axcelis Technologies. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Axcelis Technologies has no effect on the direction of Youxin Technology i.e., Youxin Technology and Axcelis Technologies go up and down completely randomly.

Pair Corralation between Youxin Technology and Axcelis Technologies

Given the investment horizon of 90 days Youxin Technology is expected to generate 7.58 times less return on investment than Axcelis Technologies. In addition to that, Youxin Technology is 5.94 times more volatile than Axcelis Technologies. It trades about 0.0 of its total potential returns per unit of risk. Axcelis Technologies is currently generating about 0.18 per unit of volatility. If you would invest  5,755  in Axcelis Technologies on May 28, 2025 and sell it today you would earn a total of  2,283  from holding Axcelis Technologies or generate 39.67% return on investment over 90 days.

Time Period	3 Months [change]
Direction	Moves Against
Strength	Very Weak
Accuracy	100.0%
Values	Daily Returns

Youxin Technology Ltd  vs.  Axcelis Technologies

Youxin Technology

Risk-Adjusted Performance

Weakest

Over the last 90 days Youxin Technology Ltd has generated negative risk-adjusted returns adding no value to investors with long positions. In spite of comparatively stable basic indicators, Youxin Technology is not utilizing all of its potentials. The latest stock price uproar, may contribute to short-horizon losses for the private investors.

Axcelis Technologies

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in Axcelis Technologies are ranked lower than 14 (%) of all global equities and portfolios over the last 90 days. In spite of comparatively uncertain essential indicators, Axcelis Technologies unveiled solid returns over the last few months and may actually be approaching a breakup point.

Pair Trading with Youxin Technology and Axcelis Technologies

The main advantage of trading using opposite Youxin Technology and Axcelis Technologies positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Youxin Technology position performs unexpectedly, Axcelis Technologies 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 Axcelis Technologies will offset losses from the drop in Axcelis Technologies' long position.

The idea behind Youxin Technology Ltd and Axcelis Technologies pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.