Correlation Between De Rucci and Anhui Gujing
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By analyzing existing cross correlation between De Rucci Healthy and Anhui Gujing Distillery, you can compare the effects of market volatilities on De Rucci and Anhui Gujing 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 De Rucci with a short position of Anhui Gujing. Check out your portfolio center. Please also check ongoing floating volatility patterns of De Rucci and Anhui Gujing.
Diversification Opportunities for De Rucci and Anhui Gujing
0.06 | Correlation Coefficient |
Significant diversification
The 3 months correlation between 001323 and Anhui is 0.06. Overlapping area represents the amount of risk that can be diversified away by holding De Rucci Healthy and Anhui Gujing Distillery in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anhui Gujing Distillery and De Rucci 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 De Rucci Healthy are associated (or correlated) with Anhui Gujing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anhui Gujing Distillery has no effect on the direction of De Rucci i.e., De Rucci and Anhui Gujing go up and down completely randomly.
Pair Corralation between De Rucci and Anhui Gujing
Assuming the 90 days trading horizon De Rucci Healthy is expected to generate 0.93 times more return on investment than Anhui Gujing. However, De Rucci Healthy is 1.08 times less risky than Anhui Gujing. It trades about -0.02 of its potential returns per unit of risk. Anhui Gujing Distillery is currently generating about -0.08 per unit of risk. If you would invest 3,676 in De Rucci Healthy on October 24, 2024 and sell it today you would lose (34.00) from holding De Rucci Healthy or give up 0.92% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
De Rucci Healthy vs. Anhui Gujing Distillery
Performance |
| Timeline |
| De Rucci Healthy |
| Anhui Gujing Distillery |
De Rucci and Anhui Gujing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with De Rucci and Anhui Gujing
The main advantage of trading using opposite De Rucci and Anhui Gujing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if De Rucci position performs unexpectedly, Anhui Gujing 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 Gujing will offset losses from the drop in Anhui Gujing's long position.| De Rucci vs. PetroChina Co Ltd | De Rucci vs. Gansu Jiu Steel | De Rucci vs. Ming Yang Smart | De Rucci vs. Aba Chemicals Corp |
| Anhui Gujing vs. Agricultural Bank of | Anhui Gujing vs. Postal Savings Bank | Anhui Gujing vs. Bank of Communications | Anhui Gujing vs. China Merchants Bank |
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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