Correlation Between Accelink Technologies and Qingdao Foods
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By analyzing existing cross correlation between Accelink Technologies Co and Qingdao Foods Co, you can compare the effects of market volatilities on Accelink Technologies and Qingdao Foods 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 Accelink Technologies with a short position of Qingdao Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of Accelink Technologies and Qingdao Foods.
Diversification Opportunities for Accelink Technologies and Qingdao Foods
0.89 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Accelink and Qingdao is 0.89. Overlapping area represents the amount of risk that can be diversified away by holding Accelink Technologies Co and Qingdao Foods Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Qingdao Foods and Accelink Technologies 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 Accelink Technologies Co are associated (or correlated) with Qingdao Foods. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Qingdao Foods has no effect on the direction of Accelink Technologies i.e., Accelink Technologies and Qingdao Foods go up and down completely randomly.
Pair Corralation between Accelink Technologies and Qingdao Foods
Assuming the 90 days trading horizon Accelink Technologies Co is expected to generate 1.38 times more return on investment than Qingdao Foods. However, Accelink Technologies is 1.38 times more volatile than Qingdao Foods Co. It trades about 0.06 of its potential returns per unit of risk. Qingdao Foods Co is currently generating about 0.02 per unit of risk. If you would invest 2,905 in Accelink Technologies Co on September 14, 2024 and sell it today you would earn a total of 1,431 from holding Accelink Technologies Co or generate 49.26% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Accelink Technologies Co vs. Qingdao Foods Co
Performance |
| Timeline |
| Accelink Technologies |
| Qingdao Foods |
Accelink Technologies and Qingdao Foods Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Accelink Technologies and Qingdao Foods
The main advantage of trading using opposite Accelink Technologies and Qingdao Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Accelink Technologies position performs unexpectedly, Qingdao Foods 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 Qingdao Foods will offset losses from the drop in Qingdao Foods' long position.| Accelink Technologies vs. Qingdao Foods Co | Accelink Technologies vs. Focus Media Information | Accelink Technologies vs. Sportsoul Co Ltd | Accelink Technologies vs. Great Sun Foods Co |
| Qingdao Foods vs. ButOne Information Corp | Qingdao Foods vs. Cultural Investment Holdings | Qingdao Foods vs. Hangzhou Gisway Information | Qingdao Foods vs. Emdoor Information Co |
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 Efficient Frontier module to plot and analyze your portfolio and positions against risk-return landscape of the market..
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