Correlation Between Origin Agritech and Amundi Label
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By analyzing existing cross correlation between Origin Agritech and Amundi Label Actions, you can compare the effects of market volatilities on Origin Agritech and Amundi Label 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 Origin Agritech with a short position of Amundi Label. Check out your portfolio center. Please also check ongoing floating volatility patterns of Origin Agritech and Amundi Label.
Diversification Opportunities for Origin Agritech and Amundi Label
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Origin and Amundi is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding Origin Agritech and Amundi Label Actions in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amundi Label Actions and Origin Agritech 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 Origin Agritech are associated (or correlated) with Amundi Label. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amundi Label Actions has no effect on the direction of Origin Agritech i.e., Origin Agritech and Amundi Label go up and down completely randomly.
Pair Corralation between Origin Agritech and Amundi Label
Assuming the 90 days trading horizon Origin Agritech is expected to generate 6.4 times more return on investment than Amundi Label. However, Origin Agritech is 6.4 times more volatile than Amundi Label Actions. It trades about 0.05 of its potential returns per unit of risk. Amundi Label Actions is currently generating about 0.06 per unit of risk. If you would invest 220.00 in Origin Agritech on September 12, 2024 and sell it today you would earn a total of 18.00 from holding Origin Agritech or generate 8.18% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Origin Agritech vs. Amundi Label Actions
Performance |
| Timeline |
| Origin Agritech |
| Amundi Label Actions |
Origin Agritech and Amundi Label Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Origin Agritech and Amundi Label
The main advantage of trading using opposite Origin Agritech and Amundi Label positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Origin Agritech position performs unexpectedly, Amundi Label 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 Amundi Label will offset losses from the drop in Amundi Label's long position.| Origin Agritech vs. REINET INVESTMENTS SCA | Origin Agritech vs. AOYAMA TRADING | Origin Agritech vs. Japan Asia Investment | Origin Agritech vs. MAROC TELECOM |
| Amundi Label vs. Amundi Label Equilibre | Amundi Label vs. Amundi 3 Mois | Amundi Label vs. Amundi Convictions ESR | Amundi Label vs. Amundi Obligataire Diversifi |
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 Aroon Oscillator module to analyze current equity momentum using Aroon Oscillator and other momentum ratios.
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