Correlation Between Cultural Investment and Anhui Huaheng
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By analyzing existing cross correlation between Cultural Investment Holdings and Anhui Huaheng Biotechnology, you can compare the effects of market volatilities on Cultural Investment and Anhui Huaheng 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 Anhui Huaheng. Check out your portfolio center. Please also check ongoing floating volatility patterns of Cultural Investment and Anhui Huaheng.
Diversification Opportunities for Cultural Investment and Anhui Huaheng
0.35 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Cultural and Anhui is 0.35. Overlapping area represents the amount of risk that can be diversified away by holding Cultural Investment Holdings and Anhui Huaheng Biotechnology in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anhui Huaheng Biotec 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 Anhui Huaheng. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anhui Huaheng Biotec has no effect on the direction of Cultural Investment i.e., Cultural Investment and Anhui Huaheng go up and down completely randomly.
Pair Corralation between Cultural Investment and Anhui Huaheng
Assuming the 90 days trading horizon Cultural Investment Holdings is expected to generate 1.07 times more return on investment than Anhui Huaheng. However, Cultural Investment is 1.07 times more volatile than Anhui Huaheng Biotechnology. It trades about -0.24 of its potential returns per unit of risk. Anhui Huaheng Biotechnology is currently generating about -0.4 per unit of risk. If you would invest 230.00 in Cultural Investment Holdings on October 25, 2024 and sell it today you would lose (25.00) from holding Cultural Investment Holdings or give up 10.87% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Cultural Investment Holdings vs. Anhui Huaheng Biotechnology
Performance |
| Timeline |
| Cultural Investment |
| Anhui Huaheng Biotec |
Cultural Investment and Anhui Huaheng Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Cultural Investment and Anhui Huaheng
The main advantage of trading using opposite Cultural Investment and Anhui Huaheng positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Cultural Investment position performs unexpectedly, Anhui Huaheng 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 Anhui Huaheng will offset losses from the drop in Anhui Huaheng's long position.| Cultural Investment vs. Yingde Greatchem Chemicals | Cultural Investment vs. MayAir Technology Co | Cultural Investment vs. Beijing Kingsoft Office | Cultural Investment vs. Southchip Semiconductor Technology |
| Anhui Huaheng vs. Holitech Technology Co | Anhui Huaheng vs. Kangping Technology Co | Anhui Huaheng vs. Olympic Circuit Technology | Anhui Huaheng vs. HanS Laser Tech |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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