Correlation Between Anhui Huaertai and Eastroc Beverage
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By analyzing existing cross correlation between Anhui Huaertai Chemical and Eastroc Beverage Group, you can compare the effects of market volatilities on Anhui Huaertai and Eastroc Beverage 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 Anhui Huaertai with a short position of Eastroc Beverage. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Huaertai and Eastroc Beverage.
Diversification Opportunities for Anhui Huaertai and Eastroc Beverage
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Anhui and Eastroc is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Huaertai Chemical and Eastroc Beverage Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Eastroc Beverage and Anhui Huaertai 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 Anhui Huaertai Chemical are associated (or correlated) with Eastroc Beverage. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Eastroc Beverage has no effect on the direction of Anhui Huaertai i.e., Anhui Huaertai and Eastroc Beverage go up and down completely randomly.
Pair Corralation between Anhui Huaertai and Eastroc Beverage
If you would invest 24,199 in Eastroc Beverage Group on October 24, 2024 and sell it today you would earn a total of 791.00 from holding Eastroc Beverage Group or generate 3.27% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.76% |
| Values | Daily Returns |
Anhui Huaertai Chemical vs. Eastroc Beverage Group
Performance |
| Timeline |
| Anhui Huaertai Chemical |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Modest
| Eastroc Beverage |
Anhui Huaertai and Eastroc Beverage Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Huaertai and Eastroc Beverage
The main advantage of trading using opposite Anhui Huaertai and Eastroc Beverage positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Huaertai position performs unexpectedly, Eastroc Beverage 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 Eastroc Beverage will offset losses from the drop in Eastroc Beverage's long position.| Anhui Huaertai vs. GRG Banking Equipment | Anhui Huaertai vs. JCHX Mining Management | Anhui Huaertai vs. Postal Savings Bank | Anhui Huaertai vs. Jiangxi Naipu Mining |
| Eastroc Beverage vs. Kailong High Technology | Eastroc Beverage vs. Zhejiang Publishing Media | Eastroc Beverage vs. XiaMen HongXin Electron tech | Eastroc Beverage vs. Vats Liquor Chain |
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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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