Correlation Between Lander Sports and Anhui Shiny
Specify exactly 2 symbols:
By analyzing existing cross correlation between Lander Sports Development and Anhui Shiny Electronic, you can compare the effects of market volatilities on Lander Sports and Anhui Shiny 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 Shiny. Check out your portfolio center. Please also check ongoing floating volatility patterns of Lander Sports and Anhui Shiny.
Diversification Opportunities for Lander Sports and Anhui Shiny
-0.16 | Correlation Coefficient |
Good diversification
The 3 months correlation between Lander and Anhui is -0.16. Overlapping area represents the amount of risk that can be diversified away by holding Lander Sports Development and Anhui Shiny Electronic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anhui Shiny Electronic 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 Shiny. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anhui Shiny Electronic has no effect on the direction of Lander Sports i.e., Lander Sports and Anhui Shiny go up and down completely randomly.
Pair Corralation between Lander Sports and Anhui Shiny
Assuming the 90 days trading horizon Lander Sports Development is expected to under-perform the Anhui Shiny. But the stock apears to be less risky and, when comparing its historical volatility, Lander Sports Development is 1.33 times less risky than Anhui Shiny. The stock trades about -0.01 of its potential returns per unit of risk. The Anhui Shiny Electronic is currently generating about 0.0 of returns per unit of risk over similar time horizon. If you would invest 2,110 in Anhui Shiny Electronic on November 5, 2024 and sell it today you would lose (26.00) from holding Anhui Shiny Electronic or give up 1.23% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Lander Sports Development vs. Anhui Shiny Electronic
Performance |
| Timeline |
| Lander Sports Development |
| Anhui Shiny Electronic |
Lander Sports and Anhui Shiny Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Lander Sports and Anhui Shiny
The main advantage of trading using opposite Lander Sports and Anhui Shiny positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Lander Sports position performs unexpectedly, Anhui Shiny 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 Shiny will offset losses from the drop in Anhui Shiny's long position.| Lander Sports vs. Chengdu Xinzhu RoadBridge | Lander Sports vs. Bank of Communications | Lander Sports vs. Silkroad Visual Technology | Lander Sports vs. Hubeiyichang Transportation Group |
| Anhui Shiny vs. Fibocom Wireless | Anhui Shiny vs. Ningbo Fangzheng Automobile | Anhui Shiny vs. Chison Medical Technologies | Anhui Shiny vs. Tinavi Medical Technologies |
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 Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
Other Complementary Tools
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Idea Optimizer Use advanced portfolio builder with pre-computed micro ideas to build optimal portfolio | |
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios |