Correlation Between Tianjin LVYIN and Agricultural Bank
Specify exactly 2 symbols:
By analyzing existing cross correlation between Tianjin LVYIN Landscape and Agricultural Bank of, you can compare the effects of market volatilities on Tianjin LVYIN 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 Tianjin LVYIN with a short position of Agricultural Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Tianjin LVYIN and Agricultural Bank.
Diversification Opportunities for Tianjin LVYIN and Agricultural Bank
-0.22 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Tianjin and Agricultural is -0.22. Overlapping area represents the amount of risk that can be diversified away by holding Tianjin LVYIN Landscape and Agricultural Bank of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agricultural Bank and Tianjin LVYIN 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 Tianjin LVYIN Landscape 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 Tianjin LVYIN i.e., Tianjin LVYIN and Agricultural Bank go up and down completely randomly.
Pair Corralation between Tianjin LVYIN and Agricultural Bank
Assuming the 90 days trading horizon Tianjin LVYIN Landscape is expected to under-perform the Agricultural Bank. In addition to that, Tianjin LVYIN is 1.98 times more volatile than Agricultural Bank of. It trades about 0.0 of its total potential returns per unit of risk. Agricultural Bank of is currently generating about 0.11 per unit of volatility. If you would invest 274.00 in Agricultural Bank of on October 30, 2024 and sell it today you would earn a total of 242.00 from holding Agricultural Bank of or generate 88.32% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 99.79% |
| Values | Daily Returns |
Tianjin LVYIN Landscape vs. Agricultural Bank of
Performance |
| Timeline |
| Tianjin LVYIN Landscape |
| Agricultural Bank |
Tianjin LVYIN and Agricultural Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Tianjin LVYIN and Agricultural Bank
The main advantage of trading using opposite Tianjin LVYIN and Agricultural Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Tianjin LVYIN 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.| Tianjin LVYIN vs. Industrial and Commercial | Tianjin LVYIN vs. China Construction Bank | Tianjin LVYIN vs. Agricultural Bank of | Tianjin LVYIN vs. Bank of China |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
Other Complementary Tools
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| USA ETFs Find actively traded Exchange Traded Funds (ETF) in USA | |
| Funds Screener Find actively-traded funds from around the world traded on over 30 global exchanges |