Correlation Between Agricultural Bank and Anhui Shiny
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By analyzing existing cross correlation between Agricultural Bank of and Anhui Shiny Electronic, you can compare the effects of market volatilities on Agricultural Bank and Anhui Shiny 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 Anhui Shiny. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agricultural Bank and Anhui Shiny.
Diversification Opportunities for Agricultural Bank and Anhui Shiny
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Agricultural and Anhui is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Agricultural Bank of and Anhui Shiny Electronic in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anhui Shiny Electronic 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 Anhui Shiny. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anhui Shiny Electronic has no effect on the direction of Agricultural Bank i.e., Agricultural Bank and Anhui Shiny go up and down completely randomly.
Pair Corralation between Agricultural Bank and Anhui Shiny
If you would invest 0.00 in Anhui Shiny Electronic on October 30, 2024 and sell it today you would earn a total of 0.00 from holding Anhui Shiny Electronic or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 5.0% |
| Values | Daily Returns |
Agricultural Bank of vs. Anhui Shiny Electronic
Performance |
| Timeline |
| Agricultural Bank |
| Anhui Shiny Electronic |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Modest
Agricultural Bank and Anhui Shiny Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Agricultural Bank and Anhui Shiny
The main advantage of trading using opposite Agricultural Bank and Anhui Shiny positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agricultural Bank position performs unexpectedly, Anhui Shiny 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 Anhui Shiny will offset losses from the drop in Anhui Shiny's long position.The idea behind Agricultural Bank of and Anhui Shiny Electronic pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.
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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 Sign In To Macroaxis module to sign in to explore Macroaxis' wealth optimization platform and fintech modules.
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