Correlation Between Chongqing Landai and Agricultural Bank
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By analyzing existing cross correlation between Chongqing Landai Powertrain and Agricultural Bank of, you can compare the effects of market volatilities on Chongqing Landai 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 Chongqing Landai with a short position of Agricultural Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Chongqing Landai and Agricultural Bank.
Diversification Opportunities for Chongqing Landai and Agricultural Bank
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between Chongqing and Agricultural is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding Chongqing Landai Powertrain and Agricultural Bank of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agricultural Bank and Chongqing Landai 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 Chongqing Landai Powertrain 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 Chongqing Landai i.e., Chongqing Landai and Agricultural Bank go up and down completely randomly.
Pair Corralation between Chongqing Landai and Agricultural Bank
Assuming the 90 days trading horizon Chongqing Landai Powertrain is expected to generate 3.48 times more return on investment than Agricultural Bank. However, Chongqing Landai is 3.48 times more volatile than Agricultural Bank of. It trades about 0.12 of its potential returns per unit of risk. Agricultural Bank of is currently generating about -0.12 per unit of risk. If you would invest 904.00 in Chongqing Landai Powertrain on October 23, 2024 and sell it today you would earn a total of 96.00 from holding Chongqing Landai Powertrain or generate 10.62% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 95.24% |
| Values | Daily Returns |
Chongqing Landai Powertrain vs. Agricultural Bank of
Performance |
| Timeline |
| Chongqing Landai Pow |
| Agricultural Bank |
Chongqing Landai and Agricultural Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Chongqing Landai and Agricultural Bank
The main advantage of trading using opposite Chongqing Landai and Agricultural Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Chongqing Landai 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.| Chongqing Landai vs. Agricultural Bank of | Chongqing Landai vs. Lecron Energy Saving | Chongqing Landai vs. Postal Savings Bank | Chongqing Landai vs. Panda Financial Holding |
| Agricultural Bank vs. China Asset Management | Agricultural Bank vs. Oppein Home Group | Agricultural Bank vs. Xiamen Goldenhome Co | Agricultural Bank vs. Hunan Mendale Hometextile |
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 Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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