Correlation Between Muyuan Foodstuff and Anji Foodstuff
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By analyzing existing cross correlation between Muyuan Foodstuff Co and Anji Foodstuff Co, you can compare the effects of market volatilities on Muyuan Foodstuff and Anji Foodstuff 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 Muyuan Foodstuff with a short position of Anji Foodstuff. Check out your portfolio center. Please also check ongoing floating volatility patterns of Muyuan Foodstuff and Anji Foodstuff.
Diversification Opportunities for Muyuan Foodstuff and Anji Foodstuff
-0.12 | Correlation Coefficient |
Good diversification
The 3 months correlation between Muyuan and Anji is -0.12. Overlapping area represents the amount of risk that can be diversified away by holding Muyuan Foodstuff Co and Anji Foodstuff Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anji Foodstuff and Muyuan Foodstuff 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 Muyuan Foodstuff Co are associated (or correlated) with Anji Foodstuff. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anji Foodstuff has no effect on the direction of Muyuan Foodstuff i.e., Muyuan Foodstuff and Anji Foodstuff go up and down completely randomly.
Pair Corralation between Muyuan Foodstuff and Anji Foodstuff
Assuming the 90 days trading horizon Muyuan Foodstuff Co is expected to generate 0.44 times more return on investment than Anji Foodstuff. However, Muyuan Foodstuff Co is 2.29 times less risky than Anji Foodstuff. It trades about -0.17 of its potential returns per unit of risk. Anji Foodstuff Co is currently generating about -0.1 per unit of risk. If you would invest 3,853 in Muyuan Foodstuff Co on October 28, 2024 and sell it today you would lose (165.00) from holding Muyuan Foodstuff Co or give up 4.28% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Muyuan Foodstuff Co vs. Anji Foodstuff Co
Performance |
| Timeline |
| Muyuan Foodstuff |
| Anji Foodstuff |
Muyuan Foodstuff and Anji Foodstuff Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Muyuan Foodstuff and Anji Foodstuff
The main advantage of trading using opposite Muyuan Foodstuff and Anji Foodstuff positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Muyuan Foodstuff position performs unexpectedly, Anji Foodstuff 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 Anji Foodstuff will offset losses from the drop in Anji Foodstuff's long position.| Muyuan Foodstuff vs. Kweichow Moutai Co | Muyuan Foodstuff vs. Contemporary Amperex Technology | Muyuan Foodstuff vs. G bits Network Technology | Muyuan Foodstuff vs. Beijing Roborock Technology |
| Anji Foodstuff vs. Kweichow Moutai Co | Anji Foodstuff vs. Contemporary Amperex Technology | Anji Foodstuff vs. G bits Network Technology | Anji Foodstuff vs. Beijing Roborock Technology |
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 Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.
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