Correlation Between Anhui Deli and INKON Life
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By analyzing existing cross correlation between Anhui Deli Household and INKON Life Technology, you can compare the effects of market volatilities on Anhui Deli and INKON Life 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 INKON Life. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Deli and INKON Life.
Diversification Opportunities for Anhui Deli and INKON Life
0.54 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Anhui and INKON is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Deli Household and INKON Life Technology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on INKON Life Technology 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 INKON Life. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of INKON Life Technology has no effect on the direction of Anhui Deli i.e., Anhui Deli and INKON Life go up and down completely randomly.
Pair Corralation between Anhui Deli and INKON Life
Assuming the 90 days trading horizon Anhui Deli Household is expected to generate 2.29 times more return on investment than INKON Life. However, Anhui Deli is 2.29 times more volatile than INKON Life Technology. It trades about -0.02 of its potential returns per unit of risk. INKON Life Technology is currently generating about -0.25 per unit of risk. If you would invest 523.00 in Anhui Deli Household on October 17, 2024 and sell it today you would lose (28.00) from holding Anhui Deli Household or give up 5.35% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anhui Deli Household vs. INKON Life Technology
Performance |
| Timeline |
| Anhui Deli Household |
| INKON Life Technology |
Anhui Deli and INKON Life Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Deli and INKON Life
The main advantage of trading using opposite Anhui Deli and INKON Life positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Deli position performs unexpectedly, INKON Life 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 INKON Life will offset losses from the drop in INKON Life's long position.| Anhui Deli vs. Easyhome New Retail | Anhui Deli vs. Leyard Optoelectronic | Anhui Deli vs. Jinlong Machinery Electronic | Anhui Deli vs. Shenzhen Clou Electronics |
| INKON Life vs. Juneyao Airlines | INKON Life vs. Vanfund Urban Investment | INKON Life vs. State Grid InformationCommunication | INKON Life vs. Zhejiang Construction 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 Volatility Analysis module to get historical volatility and risk analysis based on latest market data.
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