Correlation Between Vats Liquor and Agricultural Bank
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By analyzing existing cross correlation between Vats Liquor Chain and Agricultural Bank of, you can compare the effects of market volatilities on Vats Liquor 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 Vats Liquor with a short position of Agricultural Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vats Liquor and Agricultural Bank.
Diversification Opportunities for Vats Liquor and Agricultural Bank
-0.06 | Correlation Coefficient |
Good diversification
The 3 months correlation between Vats and Agricultural is -0.06. Overlapping area represents the amount of risk that can be diversified away by holding Vats Liquor Chain and Agricultural Bank of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agricultural Bank and Vats Liquor 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 Vats Liquor Chain 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 Vats Liquor i.e., Vats Liquor and Agricultural Bank go up and down completely randomly.
Pair Corralation between Vats Liquor and Agricultural Bank
Assuming the 90 days trading horizon Vats Liquor Chain is expected to generate 2.49 times more return on investment than Agricultural Bank. However, Vats Liquor is 2.49 times more volatile than Agricultural Bank of. It trades about 0.01 of its potential returns per unit of risk. Agricultural Bank of is currently generating about -0.16 per unit of risk. If you would invest 1,769 in Vats Liquor Chain on October 28, 2024 and sell it today you would lose (7.00) from holding Vats Liquor Chain or give up 0.4% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Vats Liquor Chain vs. Agricultural Bank of
Performance |
| Timeline |
| Vats Liquor Chain |
| Agricultural Bank |
Vats Liquor and Agricultural Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vats Liquor and Agricultural Bank
The main advantage of trading using opposite Vats Liquor and Agricultural Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vats Liquor 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.| Vats Liquor vs. Xiangpiaopiao Food Co | Vats Liquor vs. Guilin Seamild Foods | Vats Liquor vs. Bangyan Technology Co | Vats Liquor vs. JuneYao Dairy Co |
| 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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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