Correlation Between Vats Liquor and Anji Foodstuff
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By analyzing existing cross correlation between Vats Liquor Chain and Anji Foodstuff Co, you can compare the effects of market volatilities on Vats Liquor and Anji Foodstuff 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 Anji Foodstuff. Check out your portfolio center. Please also check ongoing floating volatility patterns of Vats Liquor and Anji Foodstuff.
Diversification Opportunities for Vats Liquor and Anji Foodstuff
0.49 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Vats and Anji is 0.49. Overlapping area represents the amount of risk that can be diversified away by holding Vats Liquor Chain and Anji Foodstuff Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anji Foodstuff 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 Anji Foodstuff. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anji Foodstuff has no effect on the direction of Vats Liquor i.e., Vats Liquor and Anji Foodstuff go up and down completely randomly.
Pair Corralation between Vats Liquor and Anji Foodstuff
Assuming the 90 days trading horizon Vats Liquor Chain is expected to under-perform the Anji Foodstuff. In addition to that, Vats Liquor is 1.11 times more volatile than Anji Foodstuff Co. It trades about -0.02 of its total potential returns per unit of risk. Anji Foodstuff Co is currently generating about 0.0 per unit of volatility. If you would invest 994.00 in Anji Foodstuff Co on October 27, 2024 and sell it today you would lose (181.00) from holding Anji Foodstuff Co or give up 18.21% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Vats Liquor Chain vs. Anji Foodstuff Co
Performance |
| Timeline |
| Vats Liquor Chain |
| Anji Foodstuff |
Vats Liquor and Anji Foodstuff Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Vats Liquor and Anji Foodstuff
The main advantage of trading using opposite Vats Liquor and Anji Foodstuff positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Vats Liquor position performs unexpectedly, Anji Foodstuff 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 Anji Foodstuff will offset losses from the drop in Anji Foodstuff's long position.| Vats Liquor vs. Agricultural Bank of | Vats Liquor vs. Queclink Wireless Solutions | Vats Liquor vs. China Eastern Airlines | Vats Liquor vs. Fibocom Wireless |
| Anji Foodstuff vs. Guangzhou Restaurants Group | Anji Foodstuff vs. Suzhou Xingye Material | Anji Foodstuff vs. Guangzhou Tinci Materials | Anji Foodstuff vs. Western Metal Materials |
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 Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.
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