Correlation Between Agricultural Bank and Inner Mongolia
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By analyzing existing cross correlation between Agricultural Bank of and Inner Mongolia Furui, you can compare the effects of market volatilities on Agricultural Bank and Inner Mongolia 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 Inner Mongolia. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agricultural Bank and Inner Mongolia.
Diversification Opportunities for Agricultural Bank and Inner Mongolia
-0.61 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Agricultural and Inner is -0.61. Overlapping area represents the amount of risk that can be diversified away by holding Agricultural Bank of and Inner Mongolia Furui in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Inner Mongolia Furui 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 Inner Mongolia. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Inner Mongolia Furui has no effect on the direction of Agricultural Bank i.e., Agricultural Bank and Inner Mongolia go up and down completely randomly.
Pair Corralation between Agricultural Bank and Inner Mongolia
Assuming the 90 days trading horizon Agricultural Bank of is expected to generate 0.34 times more return on investment than Inner Mongolia. However, Agricultural Bank of is 2.95 times less risky than Inner Mongolia. It trades about 0.11 of its potential returns per unit of risk. Inner Mongolia Furui is currently generating about 0.03 per unit of risk. If you would invest 275.00 in Agricultural Bank of on November 21, 2024 and sell it today you would earn a total of 254.00 from holding Agricultural Bank of or generate 92.36% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 99.79% |
| Values | Daily Returns |
Agricultural Bank of vs. Inner Mongolia Furui
Performance |
| Timeline |
| Agricultural Bank |
| Inner Mongolia Furui |
Agricultural Bank and Inner Mongolia Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Agricultural Bank and Inner Mongolia
The main advantage of trading using opposite Agricultural Bank and Inner Mongolia positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agricultural Bank position performs unexpectedly, Inner Mongolia 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 Inner Mongolia will offset losses from the drop in Inner Mongolia's long position.| Agricultural Bank vs. Xiamen Insight Investment | Agricultural Bank vs. Heren Health Co | Agricultural Bank vs. Zhongrun Resources Investment | Agricultural Bank vs. Anhui Huaren Health |
| Inner Mongolia vs. Epoxy Base Electronic | Inner Mongolia vs. Queclink Wireless Solutions | Inner Mongolia vs. Eastern Communications Co | Inner Mongolia vs. Wintao Communications Co |
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 Fundamental Analysis module to view fundamental data based on most recent published financial statements.
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