Correlation Between Agricultural Bank and Der International
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By analyzing existing cross correlation between Agricultural Bank of and Der International Home, you can compare the effects of market volatilities on Agricultural Bank and Der International 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 Der International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agricultural Bank and Der International.
Diversification Opportunities for Agricultural Bank and Der International
0.28 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Agricultural and Der is 0.28. Overlapping area represents the amount of risk that can be diversified away by holding Agricultural Bank of and Der International Home in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Der International Home 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 Der International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Der International Home has no effect on the direction of Agricultural Bank i.e., Agricultural Bank and Der International go up and down completely randomly.
Pair Corralation between Agricultural Bank and Der International
Assuming the 90 days trading horizon Agricultural Bank of is expected to under-perform the Der International. But the stock apears to be less risky and, when comparing its historical volatility, Agricultural Bank of is 2.52 times less risky than Der International. The stock trades about -0.06 of its potential returns per unit of risk. The Der International Home is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 462.00 in Der International Home on August 27, 2024 and sell it today you would earn a total of 25.00 from holding Der International Home or generate 5.41% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Agricultural Bank of vs. Der International Home
Performance |
| Timeline |
| Agricultural Bank |
| Der International Home |
Agricultural Bank and Der International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Agricultural Bank and Der International
The main advantage of trading using opposite Agricultural Bank and Der International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agricultural Bank position performs unexpectedly, Der International 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 Der International will offset losses from the drop in Der International's long position.| Agricultural Bank vs. Bank of China | Agricultural Bank vs. PetroChina Co Ltd | Agricultural Bank vs. Ping An Insurance | Agricultural Bank vs. China Mobile Limited |
| Der International vs. Agricultural Bank of | Der International vs. Industrial and Commercial | Der International vs. Bank of China | Der International vs. China Construction Bank |
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 My Watchlist Analysis module to analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like.
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