Correlation Between Agricultural Bank and Simei Media
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By analyzing existing cross correlation between Agricultural Bank of and Simei Media Co, you can compare the effects of market volatilities on Agricultural Bank and Simei Media 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 Simei Media. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agricultural Bank and Simei Media.
Diversification Opportunities for Agricultural Bank and Simei Media
0.25 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Agricultural and Simei is 0.25. Overlapping area represents the amount of risk that can be diversified away by holding Agricultural Bank of and Simei Media Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Simei Media 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 Simei Media. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Simei Media has no effect on the direction of Agricultural Bank i.e., Agricultural Bank and Simei Media go up and down completely randomly.
Pair Corralation between Agricultural Bank and Simei Media
Assuming the 90 days trading horizon Agricultural Bank is expected to generate 5.19 times less return on investment than Simei Media. But when comparing it to its historical volatility, Agricultural Bank of is 4.7 times less risky than Simei Media. It trades about 0.11 of its potential returns per unit of risk. Simei Media Co is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 561.00 in Simei Media Co on September 5, 2024 and sell it today you would earn a total of 60.00 from holding Simei Media Co or generate 10.7% 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. Simei Media Co
Performance |
| Timeline |
| Agricultural Bank |
| Simei Media |
Agricultural Bank and Simei Media Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Agricultural Bank and Simei Media
The main advantage of trading using opposite Agricultural Bank and Simei Media positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agricultural Bank position performs unexpectedly, Simei Media 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 Simei Media will offset losses from the drop in Simei Media's long position.| Agricultural Bank vs. Dymatic Chemicals | Agricultural Bank vs. Sportsoul Co Ltd | Agricultural Bank vs. Do Fluoride Chemicals Co | Agricultural Bank vs. Hubeiyichang Transportation Group |
| Simei Media vs. Industrial and Commercial | Simei Media vs. China Construction Bank | Simei Media vs. Bank of China | Simei Media vs. Agricultural Bank of |
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 Companies Directory module to evaluate performance of over 100,000 Stocks, Funds, and ETFs against different fundamentals.
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