Correlation Between Cultural Investment and Agricultural Bank
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By analyzing existing cross correlation between Cultural Investment Holdings and Agricultural Bank of, you can compare the effects of market volatilities on Cultural Investment and Agricultural Bank 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 Cultural Investment with a short position of Agricultural Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and Agricultural Bank.
Diversification Opportunities for Cultural Investment and Agricultural Bank
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Cultural and Agricultural is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and Agricultural Bank of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agricultural Bank and Cultural Investment 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 Cultural Investment Holdings are associated (or correlated) with Agricultural Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Agricultural Bank has no effect on the direction of Cultural Investment i.e., Cultural Investment and Agricultural Bank go up and down completely randomly.
Pair Corralation between Cultural Investment and Agricultural Bank
Assuming the 90 days trading horizon Cultural Investment Holdings is expected to generate 3.55 times more return on investment than Agricultural Bank. However, Cultural Investment is 3.55 times more volatile than Agricultural Bank of. It trades about 0.17 of its potential returns per unit of risk. Agricultural Bank of is currently generating about 0.05 per unit of risk. If you would invest 201.00 in Cultural Investment Holdings on August 29, 2024 and sell it today you would earn a total of 26.00 from holding Cultural Investment Holdings or generate 12.94% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cultural Investment Holdings vs. Agricultural Bank of
Performance |
| Timeline |
| Cultural Investment |
| Agricultural Bank |
Cultural Investment and Agricultural Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and Agricultural Bank
The main advantage of trading using opposite Cultural Investment and Agricultural Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, Agricultural Bank 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 Agricultural Bank will offset losses from the drop in Agricultural Bank's long position.| Cultural Investment vs. Industrial and Commercial | Cultural Investment vs. Agricultural Bank of | Cultural Investment vs. China Construction Bank | Cultural Investment vs. Bank of China |
| Agricultural Bank vs. Sinofibers Technology Co | Agricultural Bank vs. Anhui Jianghuai Automobile | Agricultural Bank vs. Uxi Unicomp Technology | Agricultural Bank vs. Jiujiang Shanshui Technology |
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 Idea Breakdown module to analyze constituents of all Macroaxis ideas. Macroaxis investment ideas are predefined, sector-focused investing themes.
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