Correlation Between Anhui Deli and Beijing YanDong
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By analyzing existing cross correlation between Anhui Deli Household and Beijing YanDong MicroElectronic, you can compare the effects of market volatilities on Anhui Deli and Beijing YanDong 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 Beijing YanDong. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Deli and Beijing YanDong.
Diversification Opportunities for Anhui Deli and Beijing YanDong
0.36 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Anhui and Beijing is 0.36. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Deli Household and Beijing YanDong MicroElectroni in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Beijing YanDong Micr 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 Beijing YanDong. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Beijing YanDong Micr has no effect on the direction of Anhui Deli i.e., Anhui Deli and Beijing YanDong go up and down completely randomly.
Pair Corralation between Anhui Deli and Beijing YanDong
Assuming the 90 days trading horizon Anhui Deli Household is expected to under-perform the Beijing YanDong. But the stock apears to be less risky and, when comparing its historical volatility, Anhui Deli Household is 1.05 times less risky than Beijing YanDong. The stock trades about 0.0 of its potential returns per unit of risk. The Beijing YanDong MicroElectronic is currently generating about 0.01 of returns per unit of risk over similar time horizon. If you would invest 2,105 in Beijing YanDong MicroElectronic on October 14, 2024 and sell it today you would lose (132.00) from holding Beijing YanDong MicroElectronic or give up 6.27% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anhui Deli Household vs. Beijing YanDong MicroElectroni
Performance |
| Timeline |
| Anhui Deli Household |
| Beijing YanDong Micr |
Anhui Deli and Beijing YanDong Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Deli and Beijing YanDong
The main advantage of trading using opposite Anhui Deli and Beijing YanDong positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Deli position performs unexpectedly, Beijing YanDong 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 Beijing YanDong will offset losses from the drop in Beijing YanDong's long position.| Anhui Deli vs. Jiangsu Financial Leasing | Anhui Deli vs. Jinhui Mining Co | Anhui Deli vs. Panda Financial Holding | Anhui Deli vs. Qilu Bank Co |
| Beijing YanDong vs. China Asset Management | Beijing YanDong vs. Luyin Investment Group | Beijing YanDong vs. Anhui Deli Household | Beijing YanDong vs. Marssenger Kitchenware Co |
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 Content Syndication module to quickly integrate customizable finance content to your own investment portal.
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