Correlation Between Agricultural Bank and Bosera CMSK
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By analyzing existing cross correlation between Agricultural Bank of and Bosera CMSK Industrial, you can compare the effects of market volatilities on Agricultural Bank and Bosera CMSK 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 Bosera CMSK. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agricultural Bank and Bosera CMSK.
Diversification Opportunities for Agricultural Bank and Bosera CMSK
0.53 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Agricultural and Bosera is 0.53. Overlapping area represents the amount of risk that can be diversified away by holding Agricultural Bank of and Bosera CMSK Industrial in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Bosera CMSK Industrial 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 Bosera CMSK. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Bosera CMSK Industrial has no effect on the direction of Agricultural Bank i.e., Agricultural Bank and Bosera CMSK go up and down completely randomly.
Pair Corralation between Agricultural Bank and Bosera CMSK
Assuming the 90 days trading horizon Agricultural Bank of is expected to generate 1.43 times more return on investment than Bosera CMSK. However, Agricultural Bank is 1.43 times more volatile than Bosera CMSK Industrial. It trades about 0.39 of its potential returns per unit of risk. Bosera CMSK Industrial is currently generating about 0.34 per unit of risk. If you would invest 485.00 in Agricultural Bank of on September 29, 2024 and sell it today you would earn a total of 46.00 from holding Agricultural Bank of or generate 9.48% 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. Bosera CMSK Industrial
Performance |
| Timeline |
| Agricultural Bank |
| Bosera CMSK Industrial |
Agricultural Bank and Bosera CMSK Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Agricultural Bank and Bosera CMSK
The main advantage of trading using opposite Agricultural Bank and Bosera CMSK positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agricultural Bank position performs unexpectedly, Bosera CMSK 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 Bosera CMSK will offset losses from the drop in Bosera CMSK's long position.| Agricultural Bank vs. Industrial and Commercial | Agricultural Bank vs. Kweichow Moutai Co | Agricultural Bank vs. China Mobile Limited | Agricultural Bank vs. China Construction Bank |
| Bosera CMSK vs. Industrial and Commercial | Bosera CMSK vs. China Construction Bank | Bosera CMSK vs. Agricultural Bank of | Bosera CMSK vs. Bank of China |
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 Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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