Correlation Between Anhui Shiny and Epoxy Base
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By analyzing existing cross correlation between Anhui Shiny Electronic and Epoxy Base Electronic, you can compare the effects of market volatilities on Anhui Shiny and Epoxy Base 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 Epoxy Base. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Shiny and Epoxy Base.
Diversification Opportunities for Anhui Shiny and Epoxy Base
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Anhui and Epoxy is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Shiny Electronic and Epoxy Base Electronic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Epoxy Base Electronic 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 Epoxy Base. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Epoxy Base Electronic has no effect on the direction of Anhui Shiny i.e., Anhui Shiny and Epoxy Base go up and down completely randomly.
Pair Corralation between Anhui Shiny and Epoxy Base
Assuming the 90 days trading horizon Anhui Shiny Electronic is expected to generate 1.15 times more return on investment than Epoxy Base. However, Anhui Shiny is 1.15 times more volatile than Epoxy Base Electronic. It trades about 0.05 of its potential returns per unit of risk. Epoxy Base Electronic is currently generating about -0.09 per unit of risk. If you would invest 1,864 in Anhui Shiny Electronic on October 16, 2024 and sell it today you would earn a total of 56.00 from holding Anhui Shiny Electronic or generate 3.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anhui Shiny Electronic vs. Epoxy Base Electronic
Performance |
| Timeline |
| Anhui Shiny Electronic |
| Epoxy Base Electronic |
Anhui Shiny and Epoxy Base Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Shiny and Epoxy Base
The main advantage of trading using opposite Anhui Shiny and Epoxy Base positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Shiny position performs unexpectedly, Epoxy Base 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 Epoxy Base will offset losses from the drop in Epoxy Base's long position.| Anhui Shiny vs. Industrial and Commercial | Anhui Shiny vs. China Construction Bank | Anhui Shiny vs. Agricultural Bank of | Anhui Shiny vs. Bank of China |
| Epoxy Base vs. Oppein Home Group | Epoxy Base vs. Mengtian Home Group | Epoxy Base vs. Easyhome New Retail | Epoxy Base vs. Xiamen Goldenhome Co |
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 Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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