Correlation Between Agricultural Bank and Anshan Senyuan
Specify exactly 2 symbols:
By analyzing existing cross correlation between Agricultural Bank of and Anshan Senyuan Road, you can compare the effects of market volatilities on Agricultural Bank and Anshan Senyuan 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 Anshan Senyuan. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agricultural Bank and Anshan Senyuan.
Diversification Opportunities for Agricultural Bank and Anshan Senyuan
-0.72 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Agricultural and Anshan is -0.72. Overlapping area represents the amount of risk that can be diversified away by holding Agricultural Bank of and Anshan Senyuan Road in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anshan Senyuan Road 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 Anshan Senyuan. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anshan Senyuan Road has no effect on the direction of Agricultural Bank i.e., Agricultural Bank and Anshan Senyuan go up and down completely randomly.
Pair Corralation between Agricultural Bank and Anshan Senyuan
Assuming the 90 days trading horizon Agricultural Bank of is expected to generate 0.35 times more return on investment than Anshan Senyuan. However, Agricultural Bank of is 2.88 times less risky than Anshan Senyuan. It trades about 0.09 of its potential returns per unit of risk. Anshan Senyuan Road is currently generating about -0.22 per unit of risk. If you would invest 476.00 in Agricultural Bank of on October 26, 2024 and sell it today you would earn a total of 30.00 from holding Agricultural Bank of or generate 6.3% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Agricultural Bank of vs. Anshan Senyuan Road
Performance |
| Timeline |
| Agricultural Bank |
| Anshan Senyuan Road |
Agricultural Bank and Anshan Senyuan Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Agricultural Bank and Anshan Senyuan
The main advantage of trading using opposite Agricultural Bank and Anshan Senyuan positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agricultural Bank position performs unexpectedly, Anshan Senyuan 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 Anshan Senyuan will offset losses from the drop in Anshan Senyuan's long position.| Agricultural Bank vs. Industrial and Commercial | Agricultural Bank vs. China Construction Bank | Agricultural Bank vs. Bank of China | Agricultural Bank vs. Postal Savings Bank |
| Anshan Senyuan vs. Industrial and Commercial | Anshan Senyuan vs. Agricultural Bank of | Anshan Senyuan vs. China Construction Bank | Anshan Senyuan 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 Price Ceiling Movement module to calculate and plot Price Ceiling Movement for different equity instruments.
Other Complementary Tools
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Price Transformation Use Price Transformation models to analyze the depth of different equity instruments across global markets | |
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Portfolio Optimization Compute new portfolio that will generate highest expected return given your specified tolerance for risk |