Correlation Between Markor International and Anji Foodstuff
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By analyzing existing cross correlation between Markor International Home and Anji Foodstuff Co, you can compare the effects of market volatilities on Markor International and Anji Foodstuff 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 Anji Foodstuff. Check out your portfolio center. Please also check ongoing floating volatility patterns of Markor International and Anji Foodstuff.
Diversification Opportunities for Markor International and Anji Foodstuff
0.9 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Markor and Anji is 0.9. Overlapping area represents the amount of risk that can be diversified away by holding Markor International Home and Anji Foodstuff Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anji Foodstuff 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 Anji Foodstuff. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anji Foodstuff has no effect on the direction of Markor International i.e., Markor International and Anji Foodstuff go up and down completely randomly.
Pair Corralation between Markor International and Anji Foodstuff
Assuming the 90 days trading horizon Markor International Home is expected to under-perform the Anji Foodstuff. In addition to that, Markor International is 1.23 times more volatile than Anji Foodstuff Co. It trades about -0.49 of its total potential returns per unit of risk. Anji Foodstuff Co is currently generating about -0.36 per unit of volatility. If you would invest 1,009 in Anji Foodstuff Co on October 14, 2024 and sell it today you would lose (244.00) from holding Anji Foodstuff Co or give up 24.18% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Markor International Home vs. Anji Foodstuff Co
Performance |
| Timeline |
| Markor International Home |
| Anji Foodstuff |
Markor International and Anji Foodstuff Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Markor International and Anji Foodstuff
The main advantage of trading using opposite Markor International and Anji Foodstuff positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Markor International position performs unexpectedly, Anji Foodstuff 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 Anji Foodstuff will offset losses from the drop in Anji Foodstuff's long position.| Markor International vs. Mengtian Home Group | Markor International vs. DO Home Collection | Markor International vs. Shandong Homey Aquatic | Markor International vs. Qumei Furniture Group |
| Anji Foodstuff vs. Central Plains Environment | Anji Foodstuff vs. Beijing Shunxin Agriculture | Anji Foodstuff vs. Qingdao Foods Co | Anji Foodstuff vs. Guangdong Wens Foodstuff |
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 Portfolio Holdings module to check your current holdings and cash postion to detemine if your portfolio needs rebalancing.
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