Correlation Between GUOMAI Culture and Anhui Jianghuai
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By analyzing existing cross correlation between GUOMAI Culture Media and Anhui Jianghuai Automobile, you can compare the effects of market volatilities on GUOMAI Culture 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 GUOMAI Culture with a short position of Anhui Jianghuai. Check out your portfolio center. Please also check ongoing floating volatility patterns of GUOMAI Culture and Anhui Jianghuai.
Diversification Opportunities for GUOMAI Culture and Anhui Jianghuai
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between GUOMAI and Anhui is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding GUOMAI Culture Media 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 GUOMAI Culture 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 GUOMAI Culture Media 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 GUOMAI Culture i.e., GUOMAI Culture and Anhui Jianghuai go up and down completely randomly.
Pair Corralation between GUOMAI Culture and Anhui Jianghuai
Assuming the 90 days trading horizon GUOMAI Culture Media is expected to generate 1.73 times more return on investment than Anhui Jianghuai. However, GUOMAI Culture is 1.73 times more volatile than Anhui Jianghuai Automobile. It trades about 0.13 of its potential returns per unit of risk. Anhui Jianghuai Automobile is currently generating about -0.09 per unit of risk. If you would invest 2,863 in GUOMAI Culture Media on December 31, 2024 and sell it today you would earn a total of 618.00 from holding GUOMAI Culture Media or generate 21.59% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
GUOMAI Culture Media vs. Anhui Jianghuai Automobile
Performance |
| Timeline |
| GUOMAI Culture Media |
| Anhui Jianghuai Auto |
GUOMAI Culture and Anhui Jianghuai Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GUOMAI Culture and Anhui Jianghuai
The main advantage of trading using opposite GUOMAI Culture and Anhui Jianghuai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GUOMAI Culture 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.| GUOMAI Culture vs. Yuanjie Semiconductor Technology | GUOMAI Culture vs. Do Fluoride Chemicals Co | GUOMAI Culture vs. Shandong Polymer Biochemicals | GUOMAI Culture vs. Shengda Mining Co |
| Anhui Jianghuai vs. China National Software | Anhui Jianghuai vs. Epoxy Base Electronic | Anhui Jianghuai vs. Success Electronics | Anhui Jianghuai vs. Fuzhou Rockchip Electronics |
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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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