Correlation Between Iat Automobile and Anhui Deli
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By analyzing existing cross correlation between Iat Automobile Technology and Anhui Deli Household, you can compare the effects of market volatilities on Iat Automobile and Anhui Deli 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 Iat Automobile with a short position of Anhui Deli. Check out your portfolio center. Please also check ongoing floating volatility patterns of Iat Automobile and Anhui Deli.
Diversification Opportunities for Iat Automobile and Anhui Deli
0.87 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Iat and Anhui is 0.87. Overlapping area represents the amount of risk that can be diversified away by holding Iat Automobile Technology and Anhui Deli Household in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anhui Deli Household and Iat Automobile 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 Iat Automobile Technology are associated (or correlated) with Anhui Deli. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anhui Deli Household has no effect on the direction of Iat Automobile i.e., Iat Automobile and Anhui Deli go up and down completely randomly.
Pair Corralation between Iat Automobile and Anhui Deli
Assuming the 90 days trading horizon Iat Automobile Technology is expected to under-perform the Anhui Deli. In addition to that, Iat Automobile is 1.14 times more volatile than Anhui Deli Household. It trades about -0.01 of its total potential returns per unit of risk. Anhui Deli Household is currently generating about -0.01 per unit of volatility. If you would invest 661.00 in Anhui Deli Household on September 15, 2024 and sell it today you would lose (132.00) from holding Anhui Deli Household or give up 19.97% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Iat Automobile Technology vs. Anhui Deli Household
Performance |
| Timeline |
| Iat Automobile Technology |
| Anhui Deli Household |
Iat Automobile and Anhui Deli Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Iat Automobile and Anhui Deli
The main advantage of trading using opposite Iat Automobile and Anhui Deli positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Iat Automobile position performs unexpectedly, Anhui Deli 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 Deli will offset losses from the drop in Anhui Deli's long position.| Iat Automobile vs. BeiGene | Iat Automobile vs. Kweichow Moutai Co | Iat Automobile vs. Beijing Roborock Technology | Iat Automobile vs. G bits Network Technology |
| Anhui Deli vs. Industrial and Commercial | Anhui Deli vs. China Construction Bank | Anhui Deli vs. Agricultural Bank of | Anhui Deli vs. Bank of China |
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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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