Correlation Between Haoxiangni Jujube and Anshan Senyuan
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By analyzing existing cross correlation between Haoxiangni Jujube Co and Anshan Senyuan Road, you can compare the effects of market volatilities on Haoxiangni Jujube and Anshan Senyuan 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 Haoxiangni Jujube with a short position of Anshan Senyuan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Haoxiangni Jujube and Anshan Senyuan.
Diversification Opportunities for Haoxiangni Jujube and Anshan Senyuan
-0.42 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Haoxiangni and Anshan is -0.42. Overlapping area represents the amount of risk that can be diversified away by holding Haoxiangni Jujube Co and Anshan Senyuan Road in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anshan Senyuan Road and Haoxiangni Jujube 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 Haoxiangni Jujube Co are associated (or correlated) with Anshan Senyuan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anshan Senyuan Road has no effect on the direction of Haoxiangni Jujube i.e., Haoxiangni Jujube and Anshan Senyuan go up and down completely randomly.
Pair Corralation between Haoxiangni Jujube and Anshan Senyuan
Assuming the 90 days trading horizon Haoxiangni Jujube Co is expected to generate 1.71 times more return on investment than Anshan Senyuan. However, Haoxiangni Jujube is 1.71 times more volatile than Anshan Senyuan Road. It trades about 0.1 of its potential returns per unit of risk. Anshan Senyuan Road is currently generating about -0.31 per unit of risk. If you would invest 644.00 in Haoxiangni Jujube Co on October 11, 2024 and sell it today you would earn a total of 128.00 from holding Haoxiangni Jujube Co or generate 19.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Haoxiangni Jujube Co vs. Anshan Senyuan Road
Performance |
| Timeline |
| Haoxiangni Jujube |
| Anshan Senyuan Road |
Haoxiangni Jujube and Anshan Senyuan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Haoxiangni Jujube and Anshan Senyuan
The main advantage of trading using opposite Haoxiangni Jujube and Anshan Senyuan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Haoxiangni Jujube position performs unexpectedly, Anshan Senyuan 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 Anshan Senyuan will offset losses from the drop in Anshan Senyuan's long position.| Haoxiangni Jujube vs. SUNSEA Telecommunications Co | Haoxiangni Jujube vs. Fibocom Wireless | Haoxiangni Jujube vs. Fujian Longzhou Transportation | Haoxiangni Jujube vs. Anhui Jianghuai Automobile |
| Anshan Senyuan vs. Beijing Mainstreets Investment | Anshan Senyuan vs. Ye Chiu Metal | Anshan Senyuan vs. Rising Nonferrous Metals | Anshan Senyuan vs. Guangdong Jingyi Metal |
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 Headlines Timeline module to stay connected to all market stories and filter out noise. Drill down to analyze hype elasticity.
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