Correlation Between Markor International and Anhui Deli
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By analyzing existing cross correlation between Markor International Home and Anhui Deli Household, you can compare the effects of market volatilities on Markor International and Anhui Deli 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 Markor International with a short position of Anhui Deli. Check out your portfolio center. Please also check ongoing floating volatility patterns of Markor International and Anhui Deli.
Diversification Opportunities for Markor International and Anhui Deli
0.58 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Markor and Anhui is 0.58. Overlapping area represents the amount of risk that can be diversified away by holding Markor International Home and Anhui Deli Household in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anhui Deli Household and Markor International 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 Markor International Home are associated (or correlated) with Anhui Deli. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anhui Deli Household has no effect on the direction of Markor International i.e., Markor International and Anhui Deli go up and down completely randomly.
Pair Corralation between Markor International and Anhui Deli
Assuming the 90 days trading horizon Markor International is expected to generate 1.14 times less return on investment than Anhui Deli. But when comparing it to its historical volatility, Markor International Home is 1.07 times less risky than Anhui Deli. It trades about 0.4 of its potential returns per unit of risk. Anhui Deli Household is currently generating about 0.43 of returns per unit of risk over similar time horizon. If you would invest 408.00 in Anhui Deli Household on November 28, 2024 and sell it today you would earn a total of 102.00 from holding Anhui Deli Household or generate 25.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 94.12% |
| Values | Daily Returns |
Markor International Home vs. Anhui Deli Household
Performance |
| Timeline |
| Markor International Home |
| Anhui Deli Household |
Markor International and Anhui Deli Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Markor International and Anhui Deli
The main advantage of trading using opposite Markor International and Anhui Deli positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Markor International position performs unexpectedly, Anhui Deli 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 Deli will offset losses from the drop in Anhui Deli's long position.| Markor International vs. Hua Hong Semiconductor | Markor International vs. Fuda Alloy Materials | Markor International vs. Shanghai V Test Semiconductor | Markor International vs. Will Semiconductor Co |
| Anhui Deli vs. Chenzhou Jingui Silver | Anhui Deli vs. Xinjiang Baodi Mining | Anhui Deli vs. Shengda Mining Co | Anhui Deli vs. Zhengzhou Coal Mining |
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 Alpha Finder module to use alpha and beta coefficients to find investment opportunities after accounting for the risk.
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