Correlation Between Agricultural Bank and Gansu Huangtai
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By analyzing existing cross correlation between Agricultural Bank of and Gansu Huangtai Wine marketing, you can compare the effects of market volatilities on Agricultural Bank and Gansu Huangtai 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 Gansu Huangtai. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agricultural Bank and Gansu Huangtai.
Diversification Opportunities for Agricultural Bank and Gansu Huangtai
0.23 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Agricultural and Gansu is 0.23. Overlapping area represents the amount of risk that can be diversified away by holding Agricultural Bank of and Gansu Huangtai Wine marketing in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Gansu Huangtai Wine 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 Gansu Huangtai. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Gansu Huangtai Wine has no effect on the direction of Agricultural Bank i.e., Agricultural Bank and Gansu Huangtai go up and down completely randomly.
Pair Corralation between Agricultural Bank and Gansu Huangtai
Assuming the 90 days trading horizon Agricultural Bank of is expected to generate 0.37 times more return on investment than Gansu Huangtai. However, Agricultural Bank of is 2.72 times less risky than Gansu Huangtai. It trades about 0.08 of its potential returns per unit of risk. Gansu Huangtai Wine marketing is currently generating about 0.0 per unit of risk. If you would invest 348.00 in Agricultural Bank of on August 31, 2024 and sell it today you would earn a total of 133.00 from holding Agricultural Bank of or generate 38.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 99.72% |
| Values | Daily Returns |
Agricultural Bank of vs. Gansu Huangtai Wine marketing
Performance |
| Timeline |
| Agricultural Bank |
| Gansu Huangtai Wine |
Agricultural Bank and Gansu Huangtai Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Agricultural Bank and Gansu Huangtai
The main advantage of trading using opposite Agricultural Bank and Gansu Huangtai positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agricultural Bank position performs unexpectedly, Gansu Huangtai 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 Huangtai will offset losses from the drop in Gansu Huangtai's long position.| Agricultural Bank vs. Zoy Home Furnishing | Agricultural Bank vs. Oppein Home Group | Agricultural Bank vs. Southchip Semiconductor Technology | Agricultural Bank vs. Suofeiya Home Collection |
| Gansu Huangtai vs. Lutian Machinery Co | Gansu Huangtai vs. PetroChina Co Ltd | Gansu Huangtai vs. Bank of China | Gansu Huangtai vs. Gansu Jiu Steel |
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 Portfolio Manager module to state of the art Portfolio Manager to monitor and improve performance of your invested capital.
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