Correlation Between Harvest Fund and Ligao Foods
Specify exactly 2 symbols:
By analyzing existing cross correlation between Harvest Fund Management and Ligao Foods CoLtd, you can compare the effects of market volatilities on Harvest Fund and Ligao Foods 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 Harvest Fund with a short position of Ligao Foods. Check out your portfolio center. Please also check ongoing floating volatility patterns of Harvest Fund and Ligao Foods.
Diversification Opportunities for Harvest Fund and Ligao Foods
-0.57 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Harvest and Ligao is -0.57. Overlapping area represents the amount of risk that can be diversified away by holding Harvest Fund Management and Ligao Foods CoLtd in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Ligao Foods CoLtd and Harvest Fund 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 Harvest Fund Management are associated (or correlated) with Ligao Foods. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Ligao Foods CoLtd has no effect on the direction of Harvest Fund i.e., Harvest Fund and Ligao Foods go up and down completely randomly.
Pair Corralation between Harvest Fund and Ligao Foods
Assuming the 90 days trading horizon Harvest Fund Management is expected to generate 0.43 times more return on investment than Ligao Foods. However, Harvest Fund Management is 2.32 times less risky than Ligao Foods. It trades about -0.05 of its potential returns per unit of risk. Ligao Foods CoLtd is currently generating about -0.05 per unit of risk. If you would invest 363.00 in Harvest Fund Management on August 30, 2024 and sell it today you would lose (102.00) from holding Harvest Fund Management or give up 28.1% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 92.23% |
| Values | Daily Returns |
Harvest Fund Management vs. Ligao Foods CoLtd
Performance |
| Timeline |
| Harvest Fund Management |
| Ligao Foods CoLtd |
Harvest Fund and Ligao Foods Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Harvest Fund and Ligao Foods
The main advantage of trading using opposite Harvest Fund and Ligao Foods positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Harvest Fund position performs unexpectedly, Ligao Foods 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 Ligao Foods will offset losses from the drop in Ligao Foods' long position.| Harvest Fund vs. Industrial and Commercial | Harvest Fund vs. Kweichow Moutai Co | Harvest Fund vs. Agricultural Bank of | Harvest Fund vs. China Mobile Limited |
| Ligao Foods vs. Heren Health Co | Ligao Foods vs. Lotus Health Group | Ligao Foods vs. Bank of Suzhou | Ligao Foods vs. Jiangsu Financial Leasing |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Other Complementary Tools
| Stock Tickers Use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites | |
| Equity Forecasting Use basic forecasting models to generate price predictions and determine price momentum | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Global Markets Map Get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes |