Correlation Between Anhui Liuguo and ButOne Information
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By analyzing existing cross correlation between Anhui Liuguo Chemical and ButOne Information Corp, you can compare the effects of market volatilities on Anhui Liuguo and ButOne Information 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 Liuguo with a short position of ButOne Information. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Liuguo and ButOne Information.
Diversification Opportunities for Anhui Liuguo and ButOne Information
0.76 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Anhui and ButOne is 0.76. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Liuguo Chemical and ButOne Information Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ButOne Information Corp and Anhui Liuguo 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 Liuguo Chemical are associated (or correlated) with ButOne Information. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ButOne Information Corp has no effect on the direction of Anhui Liuguo i.e., Anhui Liuguo and ButOne Information go up and down completely randomly.
Pair Corralation between Anhui Liuguo and ButOne Information
Assuming the 90 days trading horizon Anhui Liuguo Chemical is expected to generate 1.0 times more return on investment than ButOne Information. However, Anhui Liuguo Chemical is 1.0 times less risky than ButOne Information. It trades about 0.04 of its potential returns per unit of risk. ButOne Information Corp is currently generating about 0.01 per unit of risk. If you would invest 545.00 in Anhui Liuguo Chemical on September 12, 2024 and sell it today you would earn a total of 93.00 from holding Anhui Liuguo Chemical or generate 17.06% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anhui Liuguo Chemical vs. ButOne Information Corp
Performance |
| Timeline |
| Anhui Liuguo Chemical |
| ButOne Information Corp |
Anhui Liuguo and ButOne Information Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Liuguo and ButOne Information
The main advantage of trading using opposite Anhui Liuguo and ButOne Information positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Liuguo position performs unexpectedly, ButOne Information 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 ButOne Information will offset losses from the drop in ButOne Information's long position.| Anhui Liuguo vs. ButOne Information Corp | Anhui Liuguo vs. Do Fluoride Chemicals Co | Anhui Liuguo vs. Dymatic Chemicals | Anhui Liuguo vs. Focus Media Information |
| ButOne Information vs. Lutian Machinery Co | ButOne Information vs. PetroChina Co Ltd | ButOne Information vs. Bank of China | ButOne Information vs. Gansu Jiu Steel |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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