Correlation Between Luyin Investment and Anhui Gujing
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By analyzing existing cross correlation between Luyin Investment Group and Anhui Gujing Distillery, you can compare the effects of market volatilities on Luyin Investment and Anhui Gujing 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 Luyin Investment with a short position of Anhui Gujing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Luyin Investment and Anhui Gujing.
Diversification Opportunities for Luyin Investment and Anhui Gujing
0.46 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Luyin and Anhui is 0.46. Overlapping area represents the amount of risk that can be diversified away by holding Luyin Investment Group and Anhui Gujing Distillery in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anhui Gujing Distillery and Luyin 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 Luyin Investment Group are associated (or correlated) with Anhui Gujing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anhui Gujing Distillery has no effect on the direction of Luyin Investment i.e., Luyin Investment and Anhui Gujing go up and down completely randomly.
Pair Corralation between Luyin Investment and Anhui Gujing
Assuming the 90 days trading horizon Luyin Investment Group is expected to under-perform the Anhui Gujing. In addition to that, Luyin Investment is 1.1 times more volatile than Anhui Gujing Distillery. It trades about -0.26 of its total potential returns per unit of risk. Anhui Gujing Distillery is currently generating about -0.04 per unit of volatility. If you would invest 17,630 in Anhui Gujing Distillery on October 21, 2024 and sell it today you would lose (288.00) from holding Anhui Gujing Distillery or give up 1.63% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Luyin Investment Group vs. Anhui Gujing Distillery
Performance |
| Timeline |
| Luyin Investment |
| Anhui Gujing Distillery |
Luyin Investment and Anhui Gujing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Luyin Investment and Anhui Gujing
The main advantage of trading using opposite Luyin Investment and Anhui Gujing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Luyin Investment position performs unexpectedly, Anhui Gujing 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 Gujing will offset losses from the drop in Anhui Gujing's long position.| Luyin Investment vs. Allgens Medical Technology | Luyin Investment vs. Cowealth Medical China | Luyin Investment vs. Allmed Medical Products | Luyin Investment vs. Agricultural Bank of |
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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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