Correlation Between Anhui Jianghuai and Vanfund Urban
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By analyzing existing cross correlation between Anhui Jianghuai Automobile and Vanfund Urban Investment, you can compare the effects of market volatilities on Anhui Jianghuai and Vanfund Urban 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 Anhui Jianghuai with a short position of Vanfund Urban. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Jianghuai and Vanfund Urban.
Diversification Opportunities for Anhui Jianghuai and Vanfund Urban
0.61 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Anhui and Vanfund is 0.61. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Jianghuai Automobile and Vanfund Urban Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vanfund Urban Investment and Anhui Jianghuai 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 Anhui Jianghuai Automobile are associated (or correlated) with Vanfund Urban. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vanfund Urban Investment has no effect on the direction of Anhui Jianghuai i.e., Anhui Jianghuai and Vanfund Urban go up and down completely randomly.
Pair Corralation between Anhui Jianghuai and Vanfund Urban
Assuming the 90 days trading horizon Anhui Jianghuai Automobile is expected to generate 0.59 times more return on investment than Vanfund Urban. However, Anhui Jianghuai Automobile is 1.7 times less risky than Vanfund Urban. It trades about -0.1 of its potential returns per unit of risk. Vanfund Urban Investment is currently generating about -0.48 per unit of risk. If you would invest 3,689 in Anhui Jianghuai Automobile on October 15, 2024 and sell it today you would lose (164.00) from holding Anhui Jianghuai Automobile or give up 4.45% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anhui Jianghuai Automobile vs. Vanfund Urban Investment
Performance |
| Timeline |
| Anhui Jianghuai Auto |
| Vanfund Urban Investment |
Anhui Jianghuai and Vanfund Urban Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Jianghuai and Vanfund Urban
The main advantage of trading using opposite Anhui Jianghuai and Vanfund Urban positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Jianghuai position performs unexpectedly, Vanfund Urban 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 Vanfund Urban will offset losses from the drop in Vanfund Urban's long position.| Anhui Jianghuai vs. Tianjin Silvery Dragon | Anhui Jianghuai vs. Jinhui Mining Co | Anhui Jianghuai vs. GreenTech Environmental Co | Anhui Jianghuai vs. Xinjiang Baodi Mining |
| Vanfund Urban vs. Markor International Home | Vanfund Urban vs. Zijin Mining Group | Vanfund Urban vs. Guocheng Mining Co | Vanfund Urban vs. Qumei Furniture Group |
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 Share Portfolio module to track or share privately all of your investments from the convenience of any device.
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