Correlation Between Fujian Rongji and Agricultural Bank
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By analyzing existing cross correlation between Fujian Rongji Software and Agricultural Bank of, you can compare the effects of market volatilities on Fujian Rongji and Agricultural Bank 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 Fujian Rongji with a short position of Agricultural Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fujian Rongji and Agricultural Bank.
Diversification Opportunities for Fujian Rongji and Agricultural Bank
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Fujian and Agricultural is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding Fujian Rongji Software and Agricultural Bank of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agricultural Bank and Fujian Rongji 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 Fujian Rongji Software are associated (or correlated) with Agricultural Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Agricultural Bank has no effect on the direction of Fujian Rongji i.e., Fujian Rongji and Agricultural Bank go up and down completely randomly.
Pair Corralation between Fujian Rongji and Agricultural Bank
Assuming the 90 days trading horizon Fujian Rongji is expected to generate 3.06 times less return on investment than Agricultural Bank. In addition to that, Fujian Rongji is 2.6 times more volatile than Agricultural Bank of. It trades about 0.01 of its total potential returns per unit of risk. Agricultural Bank of is currently generating about 0.1 per unit of volatility. If you would invest 289.00 in Agricultural Bank of on December 6, 2024 and sell it today you would earn a total of 222.00 from holding Agricultural Bank of or generate 76.82% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fujian Rongji Software vs. Agricultural Bank of
Performance |
| Timeline |
| Fujian Rongji Software |
| Agricultural Bank |
Fujian Rongji and Agricultural Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fujian Rongji and Agricultural Bank
The main advantage of trading using opposite Fujian Rongji and Agricultural Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fujian Rongji position performs unexpectedly, Agricultural Bank 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 Agricultural Bank will offset losses from the drop in Agricultural Bank's long position.| Fujian Rongji vs. Caihong Display Devices | Fujian Rongji vs. Shanghai Yaoji Playing | Fujian Rongji vs. Queclink Wireless Solutions | Fujian Rongji vs. Lander Sports Development |
| Agricultural Bank vs. China Building Material | Agricultural Bank vs. North Chemical Industries | Agricultural Bank vs. Chongqing Sulian Plastic | Agricultural Bank vs. NBTM New Materials |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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