Correlation Between Anhui Huilong and China Mobile
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By analyzing existing cross correlation between Anhui Huilong Agricultural and China Mobile Limited, you can compare the effects of market volatilities on Anhui Huilong and China Mobile 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 Huilong with a short position of China Mobile. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Huilong and China Mobile.
Diversification Opportunities for Anhui Huilong and China Mobile
-0.1 | Correlation Coefficient |
Good diversification
The 3 months correlation between Anhui and China is -0.1. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Huilong Agricultural and China Mobile Limited in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Mobile Limited and Anhui Huilong 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 Huilong Agricultural are associated (or correlated) with China Mobile. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Mobile Limited has no effect on the direction of Anhui Huilong i.e., Anhui Huilong and China Mobile go up and down completely randomly.
Pair Corralation between Anhui Huilong and China Mobile
Assuming the 90 days trading horizon Anhui Huilong Agricultural is expected to generate 2.23 times more return on investment than China Mobile. However, Anhui Huilong is 2.23 times more volatile than China Mobile Limited. It trades about 0.03 of its potential returns per unit of risk. China Mobile Limited is currently generating about 0.04 per unit of risk. If you would invest 480.00 in Anhui Huilong Agricultural on October 18, 2024 and sell it today you would earn a total of 46.00 from holding Anhui Huilong Agricultural or generate 9.58% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.58% |
| Values | Daily Returns |
Anhui Huilong Agricultural vs. China Mobile Limited
Performance |
| Timeline |
| Anhui Huilong Agricu |
| China Mobile Limited |
Anhui Huilong and China Mobile Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Huilong and China Mobile
The main advantage of trading using opposite Anhui Huilong and China Mobile positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Huilong position performs unexpectedly, China Mobile 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 China Mobile will offset losses from the drop in China Mobile's long position.| Anhui Huilong vs. Vohringer Home Technology | Anhui Huilong vs. Ziel Home Furnishing | Anhui Huilong vs. Markor International Home | Anhui Huilong vs. BTG Hotels Group |
| China Mobile vs. Hubei Forbon Technology | China Mobile vs. Eit Environmental Development | China Mobile vs. Fujian Nanwang Environment | China Mobile vs. 360 Security Technology |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
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