Correlation Between Easyhome New and Anhui Deli
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By analyzing existing cross correlation between Easyhome New Retail and Anhui Deli Household, you can compare the effects of market volatilities on Easyhome New 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 Easyhome New with a short position of Anhui Deli. Check out your portfolio center. Please also check ongoing floating volatility patterns of Easyhome New and Anhui Deli.
Diversification Opportunities for Easyhome New and Anhui Deli
-0.02 | Correlation Coefficient |
Good diversification
The 3 months correlation between Easyhome and Anhui is -0.02. Overlapping area represents the amount of risk that can be diversified away by holding Easyhome New Retail 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 Easyhome New 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 Easyhome New Retail 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 Easyhome New i.e., Easyhome New and Anhui Deli go up and down completely randomly.
Pair Corralation between Easyhome New and Anhui Deli
Assuming the 90 days trading horizon Easyhome New Retail is expected to under-perform the Anhui Deli. In addition to that, Easyhome New is 1.04 times more volatile than Anhui Deli Household. It trades about -0.28 of its total potential returns per unit of risk. Anhui Deli Household is currently generating about -0.02 per unit of volatility. If you would invest 523.00 in Anhui Deli Household on October 17, 2024 and sell it today you would lose (28.00) from holding Anhui Deli Household or give up 5.35% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Easyhome New Retail vs. Anhui Deli Household
Performance |
| Timeline |
| Easyhome New Retail |
| Anhui Deli Household |
Easyhome New and Anhui Deli Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Easyhome New and Anhui Deli
The main advantage of trading using opposite Easyhome New and Anhui Deli positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Easyhome New 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.| Easyhome New vs. Sino Platinum Metals Co | Easyhome New vs. Anhui Transport Consulting | Easyhome New vs. Qingdao Choho Industrial | Easyhome New vs. Rising Nonferrous Metals |
| Anhui Deli vs. Easyhome New Retail | Anhui Deli vs. Leyard Optoelectronic | Anhui Deli vs. Jinlong Machinery Electronic | Anhui Deli vs. Shenzhen Clou 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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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