Correlation Between Anshan Senyuan and Agricultural Bank
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By analyzing existing cross correlation between Anshan Senyuan Road and Agricultural Bank of, you can compare the effects of market volatilities on Anshan Senyuan 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 Anshan Senyuan with a short position of Agricultural Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anshan Senyuan and Agricultural Bank.
Diversification Opportunities for Anshan Senyuan and Agricultural Bank
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Anshan and Agricultural is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding Anshan Senyuan Road and Agricultural Bank of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agricultural Bank and Anshan Senyuan 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 Anshan Senyuan Road 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 Anshan Senyuan i.e., Anshan Senyuan and Agricultural Bank go up and down completely randomly.
Pair Corralation between Anshan Senyuan and Agricultural Bank
Assuming the 90 days trading horizon Anshan Senyuan Road is expected to generate 4.0 times more return on investment than Agricultural Bank. However, Anshan Senyuan is 4.0 times more volatile than Agricultural Bank of. It trades about 0.07 of its potential returns per unit of risk. Agricultural Bank of is currently generating about 0.1 per unit of risk. If you would invest 322.00 in Anshan Senyuan Road on October 25, 2024 and sell it today you would earn a total of 647.00 from holding Anshan Senyuan Road or generate 200.93% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.79% |
| Values | Daily Returns |
Anshan Senyuan Road vs. Agricultural Bank of
Performance |
| Timeline |
| Anshan Senyuan Road |
| Agricultural Bank |
Anshan Senyuan and Agricultural Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anshan Senyuan and Agricultural Bank
The main advantage of trading using opposite Anshan Senyuan and Agricultural Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anshan Senyuan 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.| Anshan Senyuan vs. Industrial and Commercial | Anshan Senyuan vs. Agricultural Bank of | Anshan Senyuan vs. China Construction Bank | Anshan Senyuan vs. Bank of China |
| Agricultural Bank vs. Industrial and Commercial | Agricultural Bank vs. China Construction Bank | Agricultural Bank vs. Bank of China | Agricultural Bank vs. Postal Savings Bank |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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