Correlation Between Anhui Deli and Harvest Fund
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By analyzing existing cross correlation between Anhui Deli Household and Harvest Fund Management, you can compare the effects of market volatilities on Anhui Deli and Harvest Fund 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 Harvest Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Deli and Harvest Fund.
Diversification Opportunities for Anhui Deli and Harvest Fund
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between Anhui and Harvest is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Deli Household and Harvest Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Harvest Fund 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 Harvest Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Harvest Fund Management has no effect on the direction of Anhui Deli i.e., Anhui Deli and Harvest Fund go up and down completely randomly.
Pair Corralation between Anhui Deli and Harvest Fund
Assuming the 90 days trading horizon Anhui Deli Household is expected to under-perform the Harvest Fund. In addition to that, Anhui Deli is 2.46 times more volatile than Harvest Fund Management. It trades about -0.02 of its total potential returns per unit of risk. Harvest Fund Management is currently generating about -0.04 per unit of volatility. If you would invest 356.00 in Harvest Fund Management on September 28, 2024 and sell it today you would lose (80.00) from holding Harvest Fund Management or give up 22.47% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 96.44% |
| Values | Daily Returns |
Anhui Deli Household vs. Harvest Fund Management
Performance |
| Timeline |
| Anhui Deli Household |
| Harvest Fund Management |
Anhui Deli and Harvest Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Deli and Harvest Fund
The main advantage of trading using opposite Anhui Deli and Harvest Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Deli position performs unexpectedly, Harvest Fund 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 Harvest Fund will offset losses from the drop in Harvest Fund's long position.| Anhui Deli vs. Northking Information Technology | Anhui Deli vs. Qingdao Choho Industrial | Anhui Deli vs. Xinjiang Baodi Mining | Anhui Deli vs. Hengli Industrial Development |
| Harvest Fund vs. Industrial and Commercial | Harvest Fund vs. Kweichow Moutai Co | Harvest Fund vs. Agricultural Bank of | Harvest Fund vs. China Mobile Limited |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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