Correlation Between Yankershop Food and Agricultural Bank
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By analyzing existing cross correlation between Yankershop Food Co and Agricultural Bank of, you can compare the effects of market volatilities on Yankershop Food 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 Yankershop Food with a short position of Agricultural Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Yankershop Food and Agricultural Bank.
Diversification Opportunities for Yankershop Food and Agricultural Bank
0.68 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Yankershop and Agricultural is 0.68. Overlapping area represents the amount of risk that can be diversified away by holding Yankershop Food Co and Agricultural Bank of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agricultural Bank and Yankershop Food 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 Yankershop Food Co 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 Yankershop Food i.e., Yankershop Food and Agricultural Bank go up and down completely randomly.
Pair Corralation between Yankershop Food and Agricultural Bank
Assuming the 90 days trading horizon Yankershop Food Co is expected to generate 1.84 times more return on investment than Agricultural Bank. However, Yankershop Food is 1.84 times more volatile than Agricultural Bank of. It trades about 0.24 of its potential returns per unit of risk. Agricultural Bank of is currently generating about 0.08 per unit of risk. If you would invest 5,297 in Yankershop Food Co on October 11, 2024 and sell it today you would earn a total of 788.00 from holding Yankershop Food Co or generate 14.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Yankershop Food Co vs. Agricultural Bank of
Performance |
| Timeline |
| Yankershop Food |
| Agricultural Bank |
Yankershop Food and Agricultural Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Yankershop Food and Agricultural Bank
The main advantage of trading using opposite Yankershop Food and Agricultural Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Yankershop Food 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.| Yankershop Food vs. Quectel Wireless Solutions | Yankershop Food vs. Xiangyang Automobile Bearing | Yankershop Food vs. Jiangsu Yueda Investment | Yankershop Food vs. Hubei Geoway Investment |
| Agricultural Bank vs. Anshan Senyuan Road | Agricultural Bank vs. Eastern Air Logistics | Agricultural Bank vs. Yankershop Food Co | Agricultural Bank vs. Eastroc Beverage Group |
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 Latest Portfolios module to quick portfolio dashboard that showcases your latest portfolios.
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