Correlation Between Agricultural Bank and Maxvision Technology
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By analyzing existing cross correlation between Agricultural Bank of and Maxvision Technology Corp, you can compare the effects of market volatilities on Agricultural Bank and Maxvision Technology 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 Maxvision Technology. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agricultural Bank and Maxvision Technology.
Diversification Opportunities for Agricultural Bank and Maxvision Technology
0.42 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Agricultural and Maxvision is 0.42. Overlapping area represents the amount of risk that can be diversified away by holding Agricultural Bank of and Maxvision Technology Corp in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maxvision Technology Corp 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 Maxvision Technology. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maxvision Technology Corp has no effect on the direction of Agricultural Bank i.e., Agricultural Bank and Maxvision Technology go up and down completely randomly.
Pair Corralation between Agricultural Bank and Maxvision Technology
Assuming the 90 days trading horizon Agricultural Bank of is expected to generate 0.43 times more return on investment than Maxvision Technology. However, Agricultural Bank of is 2.32 times less risky than Maxvision Technology. It trades about 0.1 of its potential returns per unit of risk. Maxvision Technology Corp is currently generating about -0.02 per unit of risk. If you would invest 357.00 in Agricultural Bank of on September 3, 2024 and sell it today you would earn a total of 124.00 from holding Agricultural Bank of or generate 34.73% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Agricultural Bank of vs. Maxvision Technology Corp
Performance |
| Timeline |
| Agricultural Bank |
| Maxvision Technology Corp |
Agricultural Bank and Maxvision Technology Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Agricultural Bank and Maxvision Technology
The main advantage of trading using opposite Agricultural Bank and Maxvision Technology positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agricultural Bank position performs unexpectedly, Maxvision Technology 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 Maxvision Technology will offset losses from the drop in Maxvision Technology's long position.| Agricultural Bank vs. Kunwu Jiuding Investment | Agricultural Bank vs. Harbin Hatou Investment | Agricultural Bank vs. Dazhong Transportation Group | Agricultural Bank vs. Metro Investment Development |
| Maxvision Technology vs. Agricultural Bank of | Maxvision Technology vs. China Construction Bank | Maxvision Technology vs. Postal Savings Bank | Maxvision Technology vs. Bank of Communications |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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