Correlation Between Bosera CMSK and Anhui Jinhe
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By analyzing existing cross correlation between Bosera CMSK Industrial and Anhui Jinhe Industrial, you can compare the effects of market volatilities on Bosera CMSK and Anhui Jinhe 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 Bosera CMSK with a short position of Anhui Jinhe. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bosera CMSK and Anhui Jinhe.
Diversification Opportunities for Bosera CMSK and Anhui Jinhe
-0.23 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Bosera and Anhui is -0.23. Overlapping area represents the amount of risk that can be diversified away by holding Bosera CMSK Industrial and Anhui Jinhe Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anhui Jinhe Industrial and Bosera CMSK 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 Bosera CMSK Industrial are associated (or correlated) with Anhui Jinhe. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anhui Jinhe Industrial has no effect on the direction of Bosera CMSK i.e., Bosera CMSK and Anhui Jinhe go up and down completely randomly.
Pair Corralation between Bosera CMSK and Anhui Jinhe
Assuming the 90 days trading horizon Bosera CMSK Industrial is expected to under-perform the Anhui Jinhe. But the stock apears to be less risky and, when comparing its historical volatility, Bosera CMSK Industrial is 1.79 times less risky than Anhui Jinhe. The stock trades about -0.03 of its potential returns per unit of risk. The Anhui Jinhe Industrial is currently generating about -0.02 of returns per unit of risk over similar time horizon. If you would invest 3,179 in Anhui Jinhe Industrial on November 4, 2024 and sell it today you would lose (764.00) from holding Anhui Jinhe Industrial or give up 24.03% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bosera CMSK Industrial vs. Anhui Jinhe Industrial
Performance |
| Timeline |
| Bosera CMSK Industrial |
| Anhui Jinhe Industrial |
Bosera CMSK and Anhui Jinhe Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bosera CMSK and Anhui Jinhe
The main advantage of trading using opposite Bosera CMSK and Anhui Jinhe positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bosera CMSK position performs unexpectedly, Anhui Jinhe 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 Anhui Jinhe will offset losses from the drop in Anhui Jinhe's long position.| Bosera CMSK vs. Beingmate Baby Child | Bosera CMSK vs. Shenzhen Zqgame | Bosera CMSK vs. Yankershop Food Co | Bosera CMSK vs. Suzhou Weizhixiang Food |
| Anhui Jinhe vs. Guilin Seamild Foods | Anhui Jinhe vs. Ligao Foods CoLtd | Anhui Jinhe vs. Gan Yuan Foods | Anhui Jinhe vs. Anhui Jianghuai Automobile |
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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
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