Correlation Between Anhui Deli and Sinomach General
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By analyzing existing cross correlation between Anhui Deli Household and Sinomach General Machinery, you can compare the effects of market volatilities on Anhui Deli and Sinomach General 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 Sinomach General. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Deli and Sinomach General.
Diversification Opportunities for Anhui Deli and Sinomach General
0.95 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Anhui and Sinomach is 0.95. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Deli Household and Sinomach General Machinery in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Sinomach General Mac 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 Sinomach General. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Sinomach General Mac has no effect on the direction of Anhui Deli i.e., Anhui Deli and Sinomach General go up and down completely randomly.
Pair Corralation between Anhui Deli and Sinomach General
Assuming the 90 days trading horizon Anhui Deli Household is expected to under-perform the Sinomach General. But the stock apears to be less risky and, when comparing its historical volatility, Anhui Deli Household is 1.02 times less risky than Sinomach General. The stock trades about -0.01 of its potential returns per unit of risk. The Sinomach General Machinery is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 1,389 in Sinomach General Machinery on September 1, 2024 and sell it today you would earn a total of 270.00 from holding Sinomach General Machinery or generate 19.44% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anhui Deli Household vs. Sinomach General Machinery
Performance |
| Timeline |
| Anhui Deli Household |
| Sinomach General Mac |
Anhui Deli and Sinomach General Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Deli and Sinomach General
The main advantage of trading using opposite Anhui Deli and Sinomach General positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Deli position performs unexpectedly, Sinomach General 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 Sinomach General will offset losses from the drop in Sinomach General's long position.| Anhui Deli vs. Industrial and Commercial | Anhui Deli vs. China Construction Bank | Anhui Deli vs. Bank of China | Anhui Deli vs. Agricultural Bank of |
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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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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