Correlation Between Anhui Jianghuai and Allwin Telecommunicatio
Specify exactly 2 symbols:
By analyzing existing cross correlation between Anhui Jianghuai Automobile and Allwin Telecommunication Co, you can compare the effects of market volatilities on Anhui Jianghuai and Allwin Telecommunicatio 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 Allwin Telecommunicatio. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Jianghuai and Allwin Telecommunicatio.
Diversification Opportunities for Anhui Jianghuai and Allwin Telecommunicatio
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Anhui and Allwin is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Jianghuai Automobile and Allwin Telecommunication Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Allwin Telecommunicatio 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 Allwin Telecommunicatio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Allwin Telecommunicatio has no effect on the direction of Anhui Jianghuai i.e., Anhui Jianghuai and Allwin Telecommunicatio go up and down completely randomly.
Pair Corralation between Anhui Jianghuai and Allwin Telecommunicatio
Assuming the 90 days trading horizon Anhui Jianghuai Automobile is expected to generate 1.08 times more return on investment than Allwin Telecommunicatio. However, Anhui Jianghuai is 1.08 times more volatile than Allwin Telecommunication Co. It trades about 0.33 of its potential returns per unit of risk. Allwin Telecommunication Co is currently generating about 0.11 per unit of risk. If you would invest 3,500 in Anhui Jianghuai Automobile on November 5, 2024 and sell it today you would earn a total of 589.00 from holding Anhui Jianghuai Automobile or generate 16.83% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anhui Jianghuai Automobile vs. Allwin Telecommunication Co
Performance |
| Timeline |
| Anhui Jianghuai Auto |
| Allwin Telecommunicatio |
Anhui Jianghuai and Allwin Telecommunicatio Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Jianghuai and Allwin Telecommunicatio
The main advantage of trading using opposite Anhui Jianghuai and Allwin Telecommunicatio positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Jianghuai position performs unexpectedly, Allwin Telecommunicatio 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 Allwin Telecommunicatio will offset losses from the drop in Allwin Telecommunicatio's long position.| Anhui Jianghuai vs. Air China Ltd | Anhui Jianghuai vs. Sino Platinum Metals Co | Anhui Jianghuai vs. Western Metal Materials | Anhui Jianghuai vs. Kontour Medical Technology |
| Allwin Telecommunicatio vs. Holitech Technology Co | Allwin Telecommunicatio vs. Linewell Software Co | Allwin Telecommunicatio vs. Chengdu B ray Media | Allwin Telecommunicatio vs. Mango Excellent Media |
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 File Import module to quickly import all of your third-party portfolios from your local drive in csv format.
Other Complementary Tools
| Transaction History View history of all your transactions and understand their impact on performance | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Money Managers Screen money managers from public funds and ETFs managed around the world | |
| Global Correlations Find global opportunities by holding instruments from different markets |