Correlation Between Anhui Deli and Beijing Shunxin
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By analyzing existing cross correlation between Anhui Deli Household and Beijing Shunxin Agriculture, you can compare the effects of market volatilities on Anhui Deli and Beijing Shunxin 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 Deli with a short position of Beijing Shunxin. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Deli and Beijing Shunxin.
Diversification Opportunities for Anhui Deli and Beijing Shunxin
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Anhui and Beijing is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Deli Household and Beijing Shunxin Agriculture in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing Shunxin Agri and Anhui Deli 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 Deli Household are associated (or correlated) with Beijing Shunxin. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing Shunxin Agri has no effect on the direction of Anhui Deli i.e., Anhui Deli and Beijing Shunxin go up and down completely randomly.
Pair Corralation between Anhui Deli and Beijing Shunxin
Assuming the 90 days trading horizon Anhui Deli Household is expected to generate 1.32 times more return on investment than Beijing Shunxin. However, Anhui Deli is 1.32 times more volatile than Beijing Shunxin Agriculture. It trades about 0.0 of its potential returns per unit of risk. Beijing Shunxin Agriculture is currently generating about -0.03 per unit of risk. If you would invest 602.00 in Anhui Deli Household on October 16, 2024 and sell it today you would lose (107.00) from holding Anhui Deli Household or give up 17.77% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anhui Deli Household vs. Beijing Shunxin Agriculture
Performance |
| Timeline |
| Anhui Deli Household |
| Beijing Shunxin Agri |
Anhui Deli and Beijing Shunxin Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Deli and Beijing Shunxin
The main advantage of trading using opposite Anhui Deli and Beijing Shunxin positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Deli position performs unexpectedly, Beijing Shunxin 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 Beijing Shunxin will offset losses from the drop in Beijing Shunxin's long position.| Anhui Deli vs. Anji Foodstuff Co | Anhui Deli vs. HaiXin Foods Co | Anhui Deli vs. Yankershop Food Co | Anhui Deli vs. Eastern Air Logistics |
| Beijing Shunxin vs. China Publishing Media | Beijing Shunxin vs. Omnijoi Media Corp | Beijing Shunxin vs. Anhui Deli Household | Beijing Shunxin vs. Gansu Huangtai Wine marketing |
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 Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
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