Correlation Between Anhui Shiny and Huaxia Fund
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By analyzing existing cross correlation between Anhui Shiny Electronic and Huaxia Fund Management, you can compare the effects of market volatilities on Anhui Shiny and Huaxia Fund 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 Anhui Shiny with a short position of Huaxia Fund. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Shiny and Huaxia Fund.
Diversification Opportunities for Anhui Shiny and Huaxia Fund
0.67 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Anhui and Huaxia is 0.67. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Shiny Electronic and Huaxia Fund Management in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Huaxia Fund Management and Anhui Shiny 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 Anhui Shiny Electronic are associated (or correlated) with Huaxia Fund. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Huaxia Fund Management has no effect on the direction of Anhui Shiny i.e., Anhui Shiny and Huaxia Fund go up and down completely randomly.
Pair Corralation between Anhui Shiny and Huaxia Fund
Assuming the 90 days trading horizon Anhui Shiny Electronic is expected to generate 4.74 times more return on investment than Huaxia Fund. However, Anhui Shiny is 4.74 times more volatile than Huaxia Fund Management. It trades about 0.04 of its potential returns per unit of risk. Huaxia Fund Management is currently generating about 0.04 per unit of risk. If you would invest 1,543 in Anhui Shiny Electronic on November 6, 2024 and sell it today you would earn a total of 541.00 from holding Anhui Shiny Electronic or generate 35.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anhui Shiny Electronic vs. Huaxia Fund Management
Performance |
| Timeline |
| Anhui Shiny Electronic |
| Huaxia Fund Management |
Anhui Shiny and Huaxia Fund Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Shiny and Huaxia Fund
The main advantage of trading using opposite Anhui Shiny and Huaxia Fund positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Shiny position performs unexpectedly, Huaxia Fund 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 Huaxia Fund will offset losses from the drop in Huaxia Fund's long position.| Anhui Shiny vs. Chengtun Mining Group | Anhui Shiny vs. Guangzhou Haozhi Industrial | Anhui Shiny vs. Zhejiang Zhengguang Industrial | Anhui Shiny vs. Xinhua Winshare Publishing |
| Huaxia Fund vs. Beijing Lier High | Huaxia Fund vs. Ningxia Younglight Chemicals | Huaxia Fund vs. Qifeng New Material | Huaxia Fund vs. Aba Chemicals Corp |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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