Correlation Between Marssenger Kitchenware and Anhui Jianghuai
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By analyzing existing cross correlation between Marssenger Kitchenware Co and Anhui Jianghuai Automobile, you can compare the effects of market volatilities on Marssenger Kitchenware and Anhui Jianghuai 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 Marssenger Kitchenware with a short position of Anhui Jianghuai. Check out your portfolio center. Please also check ongoing floating volatility patterns of Marssenger Kitchenware and Anhui Jianghuai.
Diversification Opportunities for Marssenger Kitchenware and Anhui Jianghuai
-0.11 | Correlation Coefficient |
Good diversification
The 3 months correlation between Marssenger and Anhui is -0.11. Overlapping area represents the amount of risk that can be diversified away by holding Marssenger Kitchenware Co and Anhui Jianghuai Automobile in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anhui Jianghuai Auto and Marssenger Kitchenware 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 Marssenger Kitchenware Co are associated (or correlated) with Anhui Jianghuai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anhui Jianghuai Auto has no effect on the direction of Marssenger Kitchenware i.e., Marssenger Kitchenware and Anhui Jianghuai go up and down completely randomly.
Pair Corralation between Marssenger Kitchenware and Anhui Jianghuai
Assuming the 90 days trading horizon Marssenger Kitchenware Co is expected to generate 1.07 times more return on investment than Anhui Jianghuai. However, Marssenger Kitchenware is 1.07 times more volatile than Anhui Jianghuai Automobile. It trades about 0.32 of its potential returns per unit of risk. Anhui Jianghuai Automobile is currently generating about -0.31 per unit of risk. If you would invest 1,329 in Marssenger Kitchenware Co on November 27, 2024 and sell it today you would earn a total of 219.00 from holding Marssenger Kitchenware Co or generate 16.48% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Marssenger Kitchenware Co vs. Anhui Jianghuai Automobile
Performance |
| Timeline |
| Marssenger Kitchenware |
| Anhui Jianghuai Auto |
Marssenger Kitchenware and Anhui Jianghuai Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Marssenger Kitchenware and Anhui Jianghuai
The main advantage of trading using opposite Marssenger Kitchenware and Anhui Jianghuai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Marssenger Kitchenware position performs unexpectedly, Anhui Jianghuai 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 Jianghuai will offset losses from the drop in Anhui Jianghuai's long position.| Marssenger Kitchenware vs. Everjoy Health Group | Marssenger Kitchenware vs. PKU HealthCare Corp | Marssenger Kitchenware vs. Dezhan HealthCare Co | Marssenger Kitchenware vs. Jointo Energy Investment |
| Anhui Jianghuai vs. Nanjing Vishee Medical | Anhui Jianghuai vs. Shanghai Jinfeng Wine | Anhui Jianghuai vs. Fujian Oriental Silver | Anhui Jianghuai vs. Chengtun Mining Group |
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 Performance Analysis module to check effects of mean-variance optimization against your current asset allocation.
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