Correlation Between Invengo Information and Anji Foodstuff
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By analyzing existing cross correlation between Invengo Information Technology and Anji Foodstuff Co, you can compare the effects of market volatilities on Invengo Information and Anji Foodstuff 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 Invengo Information with a short position of Anji Foodstuff. Check out your portfolio center. Please also check ongoing floating volatility patterns of Invengo Information and Anji Foodstuff.
Diversification Opportunities for Invengo Information and Anji Foodstuff
0.72 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Invengo and Anji is 0.72. Overlapping area represents the amount of risk that can be diversified away by holding Invengo Information Technology and Anji Foodstuff Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anji Foodstuff and Invengo Information 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 Invengo Information Technology are associated (or correlated) with Anji Foodstuff. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anji Foodstuff has no effect on the direction of Invengo Information i.e., Invengo Information and Anji Foodstuff go up and down completely randomly.
Pair Corralation between Invengo Information and Anji Foodstuff
Assuming the 90 days trading horizon Invengo Information Technology is expected to generate 1.08 times more return on investment than Anji Foodstuff. However, Invengo Information is 1.08 times more volatile than Anji Foodstuff Co. It trades about 0.0 of its potential returns per unit of risk. Anji Foodstuff Co is currently generating about -0.01 per unit of risk. If you would invest 599.00 in Invengo Information Technology on October 16, 2024 and sell it today you would lose (88.00) from holding Invengo Information Technology or give up 14.69% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Invengo Information Technology vs. Anji Foodstuff Co
Performance |
| Timeline |
| Invengo Information |
| Anji Foodstuff |
Invengo Information and Anji Foodstuff Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Invengo Information and Anji Foodstuff
The main advantage of trading using opposite Invengo Information and Anji Foodstuff positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Invengo Information position performs unexpectedly, Anji Foodstuff 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 Anji Foodstuff will offset losses from the drop in Anji Foodstuff's long position.| Invengo Information vs. Anhui Deli Household | Invengo Information vs. Techshine Electronics Co | Invengo Information vs. Marssenger Kitchenware Co | Invengo Information vs. Guocheng Mining Co |
| Anji Foodstuff vs. Cultural Investment Holdings | Anji Foodstuff vs. Vanfund Urban Investment | Anji Foodstuff vs. Luyin Investment Group | Anji Foodstuff vs. Henan Shuanghui Investment |
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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