Correlation Between Iat Automobile and Agricultural Bank
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By analyzing existing cross correlation between Iat Automobile Technology and Agricultural Bank of, you can compare the effects of market volatilities on Iat Automobile 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 Iat Automobile with a short position of Agricultural Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Iat Automobile and Agricultural Bank.
Diversification Opportunities for Iat Automobile and Agricultural Bank
0.25 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Iat and Agricultural is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding Iat Automobile 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 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 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 Iat Automobile i.e., Iat Automobile and Agricultural Bank go up and down completely randomly.
Pair Corralation between Iat Automobile and Agricultural Bank
Assuming the 90 days trading horizon Iat Automobile Technology is expected to under-perform the Agricultural Bank. In addition to that, Iat Automobile is 3.16 times more volatile than Agricultural Bank of. It trades about -0.01 of its total potential returns per unit of risk. Agricultural Bank of is currently generating about 0.08 per unit of volatility. If you would invest 360.00 in Agricultural Bank of on August 25, 2024 and sell it today you would earn a total of 110.00 from holding Agricultural Bank of or generate 30.56% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Iat Automobile Technology vs. Agricultural Bank of
Performance |
| Timeline |
| Iat Automobile Technology |
| Agricultural Bank |
Iat Automobile and Agricultural Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Iat Automobile and Agricultural Bank
The main advantage of trading using opposite Iat Automobile and Agricultural Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Iat Automobile 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.| Iat Automobile vs. Kweichow Moutai Co | Iat Automobile vs. Contemporary Amperex Technology | Iat Automobile vs. G bits Network Technology | Iat Automobile vs. Beijing Roborock Technology |
| Agricultural Bank vs. New China Life | Agricultural Bank vs. Ming Yang Smart | Agricultural Bank vs. 159005 | Agricultural Bank vs. Loctek Ergonomic Technology |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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