Correlation Between Anhui Deli and Peoples Insurance
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By analyzing existing cross correlation between Anhui Deli Household and Peoples Insurance of, you can compare the effects of market volatilities on Anhui Deli and Peoples Insurance 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 Peoples Insurance. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Deli and Peoples Insurance.
Diversification Opportunities for Anhui Deli and Peoples Insurance
0.56 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Anhui and Peoples is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Deli Household and Peoples Insurance of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Peoples Insurance 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 Peoples Insurance. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Peoples Insurance has no effect on the direction of Anhui Deli i.e., Anhui Deli and Peoples Insurance go up and down completely randomly.
Pair Corralation between Anhui Deli and Peoples Insurance
Assuming the 90 days trading horizon Anhui Deli Household is expected to under-perform the Peoples Insurance. In addition to that, Anhui Deli is 1.78 times more volatile than Peoples Insurance of. It trades about -0.02 of its total potential returns per unit of risk. Peoples Insurance of is currently generating about 0.06 per unit of volatility. If you would invest 515.00 in Peoples Insurance of on September 28, 2024 and sell it today you would earn a total of 252.00 from holding Peoples Insurance of or generate 48.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anhui Deli Household vs. Peoples Insurance of
Performance |
| Timeline |
| Anhui Deli Household |
| Peoples Insurance |
Anhui Deli and Peoples Insurance Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Deli and Peoples Insurance
The main advantage of trading using opposite Anhui Deli and Peoples Insurance positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Deli position performs unexpectedly, Peoples Insurance 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 Peoples Insurance will offset losses from the drop in Peoples Insurance'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 |
| Peoples Insurance vs. Industrial and Commercial | Peoples Insurance vs. Agricultural Bank of | Peoples Insurance vs. China Construction Bank | Peoples Insurance vs. Bank of China |
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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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