Correlation Between Lander Sports and Anhui Gujing
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By analyzing existing cross correlation between Lander Sports Development and Anhui Gujing Distillery, you can compare the effects of market volatilities on Lander Sports and Anhui Gujing 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 Lander Sports with a short position of Anhui Gujing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lander Sports and Anhui Gujing.
Diversification Opportunities for Lander Sports and Anhui Gujing
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between Lander and Anhui is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding Lander Sports Development and Anhui Gujing Distillery in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anhui Gujing Distillery and Lander Sports 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 Lander Sports Development are associated (or correlated) with Anhui Gujing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anhui Gujing Distillery has no effect on the direction of Lander Sports i.e., Lander Sports and Anhui Gujing go up and down completely randomly.
Pair Corralation between Lander Sports and Anhui Gujing
Assuming the 90 days trading horizon Lander Sports Development is expected to generate 1.38 times more return on investment than Anhui Gujing. However, Lander Sports is 1.38 times more volatile than Anhui Gujing Distillery. It trades about 0.08 of its potential returns per unit of risk. Anhui Gujing Distillery is currently generating about -0.01 per unit of risk. If you would invest 243.00 in Lander Sports Development on November 3, 2024 and sell it today you would earn a total of 79.00 from holding Lander Sports Development or generate 32.51% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lander Sports Development vs. Anhui Gujing Distillery
Performance |
| Timeline |
| Lander Sports Development |
| Anhui Gujing Distillery |
Lander Sports and Anhui Gujing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lander Sports and Anhui Gujing
The main advantage of trading using opposite Lander Sports and Anhui Gujing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lander Sports position performs unexpectedly, Anhui Gujing 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 Gujing will offset losses from the drop in Anhui Gujing's long position.| Lander Sports vs. Ningbo Fujia Industrial | Lander Sports vs. Youyou Foods Co | Lander Sports vs. Suzhou Weizhixiang Food | Lander Sports vs. Hengli Industrial Development |
| Anhui Gujing vs. Jinhe Biotechnology Co | Anhui Gujing vs. Guangdong Marubi Biotechnology | Anhui Gujing vs. Yankershop Food Co | Anhui Gujing vs. Pinlive Foods Co |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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