Correlation Between Wanda Cinema and Agricultural Bank
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By analyzing existing cross correlation between Wanda Cinema Line and Agricultural Bank of, you can compare the effects of market volatilities on Wanda Cinema and Agricultural Bank 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 Wanda Cinema with a short position of Agricultural Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Wanda Cinema and Agricultural Bank.
Diversification Opportunities for Wanda Cinema and Agricultural Bank
0.02 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Wanda and Agricultural is 0.02. Overlapping area represents the amount of risk that can be diversified away by holding Wanda Cinema Line and Agricultural Bank of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agricultural Bank and Wanda Cinema 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 Wanda Cinema Line are associated (or correlated) with Agricultural Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Agricultural Bank has no effect on the direction of Wanda Cinema i.e., Wanda Cinema and Agricultural Bank go up and down completely randomly.
Pair Corralation between Wanda Cinema and Agricultural Bank
Assuming the 90 days trading horizon Wanda Cinema Line is expected to under-perform the Agricultural Bank. In addition to that, Wanda Cinema is 1.31 times more volatile than Agricultural Bank of. It trades about -0.31 of its total potential returns per unit of risk. Agricultural Bank of is currently generating about 0.01 per unit of volatility. If you would invest 504.00 in Agricultural Bank of on October 20, 2024 and sell it today you would earn a total of 1.00 from holding Agricultural Bank of or generate 0.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Wanda Cinema Line vs. Agricultural Bank of
Performance |
| Timeline |
| Wanda Cinema Line |
| Agricultural Bank |
Wanda Cinema and Agricultural Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Wanda Cinema and Agricultural Bank
The main advantage of trading using opposite Wanda Cinema and Agricultural Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Wanda Cinema position performs unexpectedly, Agricultural Bank 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 Agricultural Bank will offset losses from the drop in Agricultural Bank's long position.| Wanda Cinema vs. Agricultural Bank of | Wanda Cinema vs. Industrial and Commercial | Wanda Cinema vs. Bank of China | Wanda Cinema vs. PetroChina Co Ltd |
| Agricultural Bank vs. Jinlong Machinery Electronic | Agricultural Bank vs. JCHX Mining Management | Agricultural Bank vs. Xingguang Agricultural Mach | Agricultural Bank vs. Shantui Construction Machinery |
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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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