Correlation Between Agricultural Bank and Vanfund Urban
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By analyzing existing cross correlation between Agricultural Bank of and Vanfund Urban Investment, you can compare the effects of market volatilities on Agricultural Bank and Vanfund Urban 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 Agricultural Bank with a short position of Vanfund Urban. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agricultural Bank and Vanfund Urban.
Diversification Opportunities for Agricultural Bank and Vanfund Urban
-0.58 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Agricultural and Vanfund is -0.58. Overlapping area represents the amount of risk that can be diversified away by holding Agricultural Bank of and Vanfund Urban Investment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Vanfund Urban Investment and Agricultural Bank 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 Agricultural Bank of are associated (or correlated) with Vanfund Urban. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Vanfund Urban Investment has no effect on the direction of Agricultural Bank i.e., Agricultural Bank and Vanfund Urban go up and down completely randomly.
Pair Corralation between Agricultural Bank and Vanfund Urban
Assuming the 90 days trading horizon Agricultural Bank of is expected to generate 0.38 times more return on investment than Vanfund Urban. However, Agricultural Bank of is 2.64 times less risky than Vanfund Urban. It trades about 0.11 of its potential returns per unit of risk. Vanfund Urban Investment is currently generating about -0.01 per unit of risk. If you would invest 273.00 in Agricultural Bank of on November 5, 2024 and sell it today you would earn a total of 243.00 from holding Agricultural Bank of or generate 89.01% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Agricultural Bank of vs. Vanfund Urban Investment
Performance |
| Timeline |
| Agricultural Bank |
| Vanfund Urban Investment |
Agricultural Bank and Vanfund Urban Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Agricultural Bank and Vanfund Urban
The main advantage of trading using opposite Agricultural Bank and Vanfund Urban positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agricultural Bank position performs unexpectedly, Vanfund Urban 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 Vanfund Urban will offset losses from the drop in Vanfund Urban's long position.| Agricultural Bank vs. Jiajia Food Group | Agricultural Bank vs. Ningbo Kangqiang Electronics | Agricultural Bank vs. Yan Tai Shuang | Agricultural Bank vs. Zhejiang Huatong Meat |
| Vanfund Urban vs. Gansu Huangtai Wine marketing | Vanfund Urban vs. Hefei Metalforming Mach | Vanfund Urban vs. Easyhome New Retail | Vanfund Urban vs. ZYF Lopsking Aluminum |
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 Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.
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