Correlation Between Easyhome New and Agricultural Bank
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By analyzing existing cross correlation between Easyhome New Retail and Agricultural Bank of, you can compare the effects of market volatilities on Easyhome New and Agricultural Bank 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 Agricultural Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Easyhome New and Agricultural Bank.
Diversification Opportunities for Easyhome New and Agricultural Bank
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Easyhome and Agricultural is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Easyhome New Retail and Agricultural Bank of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agricultural Bank 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 Agricultural Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Agricultural Bank has no effect on the direction of Easyhome New i.e., Easyhome New and Agricultural Bank go up and down completely randomly.
Pair Corralation between Easyhome New and Agricultural Bank
Assuming the 90 days trading horizon Easyhome New Retail is expected to generate 2.58 times more return on investment than Agricultural Bank. However, Easyhome New is 2.58 times more volatile than Agricultural Bank of. It trades about 0.15 of its potential returns per unit of risk. Agricultural Bank of is currently generating about 0.09 per unit of risk. If you would invest 282.00 in Easyhome New Retail on September 1, 2024 and sell it today you would earn a total of 21.00 from holding Easyhome New Retail or generate 7.45% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Easyhome New Retail vs. Agricultural Bank of
Performance |
| Timeline |
| Easyhome New Retail |
| Agricultural Bank |
Easyhome New and Agricultural Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Easyhome New and Agricultural Bank
The main advantage of trading using opposite Easyhome New and Agricultural Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Easyhome New position performs unexpectedly, Agricultural Bank 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 Agricultural Bank will offset losses from the drop in Agricultural Bank's long position.| Easyhome New vs. Bank of China | Easyhome New vs. Kweichow Moutai Co | Easyhome New vs. PetroChina Co Ltd | Easyhome New vs. Bank of Communications |
| Agricultural Bank vs. China State Construction | Agricultural Bank vs. China Railway Group | Agricultural Bank vs. China Railway Construction | Agricultural Bank vs. China Mobile Limited |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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