Correlation Between Zhongrun Resources and Anhui Deli
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By analyzing existing cross correlation between Zhongrun Resources Investment and Anhui Deli Household, you can compare the effects of market volatilities on Zhongrun Resources and Anhui Deli 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 Zhongrun Resources with a short position of Anhui Deli. Check out your portfolio center. Please also check ongoing floating volatility patterns of Zhongrun Resources and Anhui Deli.
Diversification Opportunities for Zhongrun Resources and Anhui Deli
0.77 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Zhongrun and Anhui is 0.77. Overlapping area represents the amount of risk that can be diversified away by holding Zhongrun Resources Investment and Anhui Deli Household in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anhui Deli Household and Zhongrun Resources 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 Zhongrun Resources Investment are associated (or correlated) with Anhui Deli. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anhui Deli Household has no effect on the direction of Zhongrun Resources i.e., Zhongrun Resources and Anhui Deli go up and down completely randomly.
Pair Corralation between Zhongrun Resources and Anhui Deli
Assuming the 90 days trading horizon Zhongrun Resources Investment is expected to generate 1.24 times more return on investment than Anhui Deli. However, Zhongrun Resources is 1.24 times more volatile than Anhui Deli Household. It trades about 0.0 of its potential returns per unit of risk. Anhui Deli Household is currently generating about -0.01 per unit of risk. If you would invest 434.00 in Zhongrun Resources Investment on September 14, 2024 and sell it today you would lose (113.00) from holding Zhongrun Resources Investment or give up 26.04% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 99.23% |
| Values | Daily Returns |
Zhongrun Resources Investment vs. Anhui Deli Household
Performance |
| Timeline |
| Zhongrun Resources |
| Anhui Deli Household |
Zhongrun Resources and Anhui Deli Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Zhongrun Resources and Anhui Deli
The main advantage of trading using opposite Zhongrun Resources and Anhui Deli positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Zhongrun Resources position performs unexpectedly, Anhui Deli 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 Anhui Deli will offset losses from the drop in Anhui Deli's long position.| Zhongrun Resources vs. Postal Savings Bank | Zhongrun Resources vs. Hunan Investment Group | Zhongrun Resources vs. Ningbo Ligong Online | Zhongrun Resources vs. Guangdong Silvere Sci |
| Anhui Deli vs. Industrial and Commercial | Anhui Deli vs. China Construction Bank | Anhui Deli vs. Agricultural Bank of | Anhui Deli vs. Bank of China |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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