Correlation Between Anhui Deli and China Asset
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By analyzing existing cross correlation between Anhui Deli Household and China Asset Management, you can compare the effects of market volatilities on Anhui Deli and China Asset 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 China Asset. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Deli and China Asset.
Diversification Opportunities for Anhui Deli and China Asset
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Anhui and China is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Deli Household and China Asset Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Asset Management 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 China Asset. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Asset Management has no effect on the direction of Anhui Deli i.e., Anhui Deli and China Asset go up and down completely randomly.
Pair Corralation between Anhui Deli and China Asset
Assuming the 90 days trading horizon Anhui Deli Household is expected to under-perform the China Asset. In addition to that, Anhui Deli is 3.69 times more volatile than China Asset Management. It trades about -0.01 of its total potential returns per unit of risk. China Asset Management is currently generating about 0.12 per unit of volatility. If you would invest 256.00 in China Asset Management on September 14, 2024 and sell it today you would earn a total of 85.00 from holding China Asset Management or generate 33.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.62% |
| Values | Daily Returns |
Anhui Deli Household vs. China Asset Management
Performance |
| Timeline |
| Anhui Deli Household |
| China Asset Management |
Anhui Deli and China Asset Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Deli and China Asset
The main advantage of trading using opposite Anhui Deli and China Asset positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Deli position performs unexpectedly, China Asset 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 Asset will offset losses from the drop in China Asset's long position.| Anhui Deli vs. Industrial and Commercial | Anhui Deli vs. China Construction Bank | Anhui Deli vs. Agricultural Bank of | Anhui Deli vs. Bank of China |
| China Asset vs. Kweichow Moutai Co | China Asset vs. Agricultural Bank of | China Asset vs. China Mobile Limited | China Asset vs. China Construction Bank |
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 CEOs Directory module to screen CEOs from public companies around the world.
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