Correlation Between China Securities and Anhui Deli
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By analyzing existing cross correlation between China Securities 800 and Anhui Deli Household, you can compare the effects of market volatilities on China Securities 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 China Securities with a short position of Anhui Deli. Check out your portfolio center. Please also check ongoing floating volatility patterns of China Securities and Anhui Deli.
Diversification Opportunities for China Securities and Anhui Deli
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between China and Anhui is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding China Securities 800 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 China Securities 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 China Securities 800 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 China Securities i.e., China Securities and Anhui Deli go up and down completely randomly.
Pair Corralation between China Securities and Anhui Deli
Assuming the 90 days trading horizon China Securities 800 is expected to generate 0.39 times more return on investment than Anhui Deli. However, China Securities 800 is 2.58 times less risky than Anhui Deli. It trades about 0.03 of its potential returns per unit of risk. Anhui Deli Household is currently generating about -0.02 per unit of risk. If you would invest 384,076 in China Securities 800 on August 26, 2024 and sell it today you would earn a total of 33,476 from holding China Securities 800 or generate 8.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
China Securities 800 vs. Anhui Deli Household
Performance |
| Timeline |
China Securities and Anhui Deli Volatility Contrast
Predicted Return Density |
| Returns |
China Securities 800
Pair trading matchups for China Securities
Anhui Deli Household
Pair trading matchups for Anhui Deli
Pair Trading with China Securities and Anhui Deli
The main advantage of trading using opposite China Securities and Anhui Deli positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if China Securities 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.| China Securities vs. Yuan Longping High tech | China Securities vs. Saurer Intelligent Technology | China Securities vs. Fujian Rongji Software | China Securities vs. Jinhui Liquor Co |
| Anhui Deli vs. Hunan Investment Group | Anhui Deli vs. Shaanxi Energy Investment | Anhui Deli vs. Jiangsu Yueda Investment | Anhui Deli vs. Jiangsu Xinri E Vehicle |
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 Correlations module to find global opportunities by holding instruments from different markets.
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