Correlation Between Anyang Iron and Gansu Jiu
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By analyzing existing cross correlation between Anyang Iron Steel and Gansu Jiu Steel, you can compare the effects of market volatilities on Anyang Iron and Gansu Jiu 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 Anyang Iron with a short position of Gansu Jiu. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anyang Iron and Gansu Jiu.
Diversification Opportunities for Anyang Iron and Gansu Jiu
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Anyang and Gansu is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Anyang Iron Steel and Gansu Jiu Steel in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gansu Jiu Steel and Anyang Iron 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 Anyang Iron Steel are associated (or correlated) with Gansu Jiu. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gansu Jiu Steel has no effect on the direction of Anyang Iron i.e., Anyang Iron and Gansu Jiu go up and down completely randomly.
Pair Corralation between Anyang Iron and Gansu Jiu
If you would invest (100.00) in Anyang Iron Steel on November 4, 2024 and sell it today you would earn a total of 100.00 from holding Anyang Iron Steel or generate -100.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 0.0% |
| Values | Daily Returns |
Anyang Iron Steel vs. Gansu Jiu Steel
Performance |
| Timeline |
| Anyang Iron Steel |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Gansu Jiu Steel |
Anyang Iron and Gansu Jiu Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anyang Iron and Gansu Jiu
The main advantage of trading using opposite Anyang Iron and Gansu Jiu positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anyang Iron position performs unexpectedly, Gansu Jiu 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 Gansu Jiu will offset losses from the drop in Gansu Jiu's long position.| Anyang Iron vs. Kidswant Children Products | Anyang Iron vs. Ziel Home Furnishing | Anyang Iron vs. Dongguan Tarry Electronics | Anyang Iron vs. AUPU Home Style |
| Gansu Jiu vs. Eyebright Medical Technology | Gansu Jiu vs. FSPG Hi Tech Co | Gansu Jiu vs. Hengkang Medical Group | Gansu Jiu vs. Maxvision Technology Corp |
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 Transaction History module to view history of all your transactions and understand their impact on performance.
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