Correlation Between V V and Anhui Shiny
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By analyzing existing cross correlation between V V Food and Anhui Shiny Electronic, you can compare the effects of market volatilities on V V and Anhui Shiny 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 V V with a short position of Anhui Shiny. Check out your portfolio center. Please also check ongoing floating volatility patterns of V V and Anhui Shiny.
Diversification Opportunities for V V and Anhui Shiny
0.21 | Correlation Coefficient |
Modest diversification
The 3 months correlation between 600300 and Anhui is 0.21. Overlapping area represents the amount of risk that can be diversified away by holding V V Food and Anhui Shiny Electronic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anhui Shiny Electronic and V V 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 V V Food are associated (or correlated) with Anhui Shiny. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anhui Shiny Electronic has no effect on the direction of V V i.e., V V and Anhui Shiny go up and down completely randomly.
Pair Corralation between V V and Anhui Shiny
Assuming the 90 days trading horizon V V is expected to generate 1.43 times less return on investment than Anhui Shiny. But when comparing it to its historical volatility, V V Food is 1.25 times less risky than Anhui Shiny. It trades about 0.05 of its potential returns per unit of risk. Anhui Shiny Electronic is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 1,799 in Anhui Shiny Electronic on October 14, 2024 and sell it today you would earn a total of 186.00 from holding Anhui Shiny Electronic or generate 10.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
V V Food vs. Anhui Shiny Electronic
Performance |
| Timeline |
| V V Food |
| Anhui Shiny Electronic |
V V and Anhui Shiny Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with V V and Anhui Shiny
The main advantage of trading using opposite V V and Anhui Shiny positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if V V position performs unexpectedly, Anhui Shiny 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 Shiny will offset losses from the drop in Anhui Shiny's long position.| V V vs. Shanghai Sanyou Medical | V V vs. CareRay Digital Medical | V V vs. Easyhome New Retail | V V vs. Tongyu Communication |
| Anhui Shiny vs. Shenzhen SDG Information | Anhui Shiny vs. HaiXin Foods Co | Anhui Shiny vs. V V Food | Anhui Shiny vs. Shanghai Ziyan Foods |
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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
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