Correlation Between INKON Life and Agricultural Bank
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By analyzing existing cross correlation between INKON Life Technology and Agricultural Bank of, you can compare the effects of market volatilities on INKON Life 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 INKON Life with a short position of Agricultural Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of INKON Life and Agricultural Bank.
Diversification Opportunities for INKON Life and Agricultural Bank
-0.66 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between INKON and Agricultural is -0.66. Overlapping area represents the amount of risk that can be diversified away by holding INKON Life Technology and Agricultural Bank of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agricultural Bank and INKON Life 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 INKON Life Technology 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 INKON Life i.e., INKON Life and Agricultural Bank go up and down completely randomly.
Pair Corralation between INKON Life and Agricultural Bank
Assuming the 90 days trading horizon INKON Life Technology is expected to under-perform the Agricultural Bank. In addition to that, INKON Life is 1.71 times more volatile than Agricultural Bank of. It trades about -0.02 of its total potential returns per unit of risk. Agricultural Bank of is currently generating about 0.12 per unit of volatility. If you would invest 504.00 in Agricultural Bank of on November 4, 2024 and sell it today you would earn a total of 12.00 from holding Agricultural Bank of or generate 2.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
INKON Life Technology vs. Agricultural Bank of
Performance |
| Timeline |
| INKON Life Technology |
| Agricultural Bank |
INKON Life and Agricultural Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with INKON Life and Agricultural Bank
The main advantage of trading using opposite INKON Life and Agricultural Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if INKON Life 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.| INKON Life vs. Lander Sports Development | INKON Life vs. Western Metal Materials | INKON Life vs. Konfoong Materials International | INKON Life vs. China Sports Industry |
| Agricultural Bank vs. Olympic Circuit Technology | Agricultural Bank vs. Holitech Technology Co | Agricultural Bank vs. Xiamen Bank Co | Agricultural Bank vs. Peoples Insurance of |
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 Piotroski F Score module to get Piotroski F Score based on the binary analysis strategy of nine different fundamentals.
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