Correlation Between Anhui Huaren and Agricultural Bank
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By analyzing existing cross correlation between Anhui Huaren Health and Agricultural Bank of, you can compare the effects of market volatilities on Anhui Huaren 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 Anhui Huaren with a short position of Agricultural Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Huaren and Agricultural Bank.
Diversification Opportunities for Anhui Huaren and Agricultural Bank
-0.57 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Anhui and Agricultural is -0.57. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Huaren Health and Agricultural Bank of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agricultural Bank and Anhui Huaren 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 Huaren Health 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 Anhui Huaren i.e., Anhui Huaren and Agricultural Bank go up and down completely randomly.
Pair Corralation between Anhui Huaren and Agricultural Bank
Assuming the 90 days trading horizon Anhui Huaren Health is expected to under-perform the Agricultural Bank. In addition to that, Anhui Huaren is 2.33 times more volatile than Agricultural Bank of. It trades about -0.05 of its total potential returns per unit of risk. Agricultural Bank of is currently generating about 0.11 per unit of volatility. If you would invest 274.00 in Agricultural Bank of on October 10, 2024 and sell it today you would earn a total of 252.00 from holding Agricultural Bank of or generate 91.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 95.17% |
| Values | Daily Returns |
Anhui Huaren Health vs. Agricultural Bank of
Performance |
| Timeline |
| Anhui Huaren Health |
| Agricultural Bank |
Anhui Huaren and Agricultural Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Huaren and Agricultural Bank
The main advantage of trading using opposite Anhui Huaren and Agricultural Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Huaren 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.| Anhui Huaren vs. Bomesc Offshore Engineering | Anhui Huaren vs. Ningbo Fangzheng Automobile | Anhui Huaren vs. CSSC Offshore Marine | Anhui Huaren vs. Guangzhou Seagull Kitchen |
| Agricultural Bank vs. Anshan Senyuan Road | Agricultural Bank vs. Eastern Air Logistics | Agricultural Bank vs. Yankershop Food Co | Agricultural Bank vs. Eastroc Beverage 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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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