Correlation Between Agricultural Bank and Shenzhen
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By analyzing existing cross correlation between Agricultural Bank of and Shenzhen AV Display Co, you can compare the effects of market volatilities on Agricultural Bank and Shenzhen 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 Shenzhen. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agricultural Bank and Shenzhen.
Diversification Opportunities for Agricultural Bank and Shenzhen
-0.01 | Correlation Coefficient |
Good diversification
The 3 months correlation between Agricultural and Shenzhen is -0.01. Overlapping area represents the amount of risk that can be diversified away by holding Agricultural Bank of and Shenzhen AV Display Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shenzhen AV Display 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 Shenzhen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shenzhen AV Display has no effect on the direction of Agricultural Bank i.e., Agricultural Bank and Shenzhen go up and down completely randomly.
Pair Corralation between Agricultural Bank and Shenzhen
Assuming the 90 days trading horizon Agricultural Bank of is expected to generate 0.36 times more return on investment than Shenzhen. However, Agricultural Bank of is 2.78 times less risky than Shenzhen. It trades about 0.08 of its potential returns per unit of risk. Shenzhen AV Display Co is currently generating about -0.03 per unit of risk. If you would invest 505.00 in Agricultural Bank of on December 4, 2024 and sell it today you would earn a total of 6.00 from holding Agricultural Bank of or generate 1.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Agricultural Bank of vs. Shenzhen AV Display Co
Performance |
| Timeline |
| Agricultural Bank |
| Shenzhen AV Display |
Agricultural Bank and Shenzhen Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Agricultural Bank and Shenzhen
The main advantage of trading using opposite Agricultural Bank and Shenzhen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agricultural Bank position performs unexpectedly, Shenzhen 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 Shenzhen will offset losses from the drop in Shenzhen's long position.| Agricultural Bank vs. Vanfund Urban Investment | Agricultural Bank vs. Wuhan Hvsen Biotechnology | Agricultural Bank vs. SSAW Hotels Resorts | Agricultural Bank vs. Zhongrun Resources Investment |
| Shenzhen vs. Kunwu Jiuding Investment | Shenzhen vs. China Sports Industry | Shenzhen vs. Shanghai Yaoji Playing | Shenzhen vs. Luyin Investment Group |
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 Equity Analysis module to research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities.
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