Correlation Between Agricultural Bank and HUANLEJIA Food
Specify exactly 2 symbols:
By analyzing existing cross correlation between Agricultural Bank of and HUANLEJIA Food Group, you can compare the effects of market volatilities on Agricultural Bank and HUANLEJIA Food 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 HUANLEJIA Food. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agricultural Bank and HUANLEJIA Food.
Diversification Opportunities for Agricultural Bank and HUANLEJIA Food
0.3 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Agricultural and HUANLEJIA is 0.3. Overlapping area represents the amount of risk that can be diversified away by holding Agricultural Bank of and HUANLEJIA Food Group in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on HUANLEJIA Food Group 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 HUANLEJIA Food. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of HUANLEJIA Food Group has no effect on the direction of Agricultural Bank i.e., Agricultural Bank and HUANLEJIA Food go up and down completely randomly.
Pair Corralation between Agricultural Bank and HUANLEJIA Food
Assuming the 90 days trading horizon Agricultural Bank is expected to generate 1.0 times less return on investment than HUANLEJIA Food. But when comparing it to its historical volatility, Agricultural Bank of is 2.65 times less risky than HUANLEJIA Food. It trades about 0.1 of its potential returns per unit of risk. HUANLEJIA Food Group is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 1,312 in HUANLEJIA Food Group on September 5, 2024 and sell it today you would earn a total of 579.00 from holding HUANLEJIA Food Group or generate 44.13% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Agricultural Bank of vs. HUANLEJIA Food Group
Performance |
| Timeline |
| Agricultural Bank |
| HUANLEJIA Food Group |
Agricultural Bank and HUANLEJIA Food Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Agricultural Bank and HUANLEJIA Food
The main advantage of trading using opposite Agricultural Bank and HUANLEJIA Food positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agricultural Bank position performs unexpectedly, HUANLEJIA Food 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 HUANLEJIA Food will offset losses from the drop in HUANLEJIA Food's long position.| Agricultural Bank vs. Dymatic Chemicals | Agricultural Bank vs. Sportsoul Co Ltd | Agricultural Bank vs. Do Fluoride Chemicals Co | Agricultural Bank vs. Hubeiyichang Transportation Group |
| HUANLEJIA Food vs. Guangzhou Dongfang Hotel | HUANLEJIA Food vs. China World Trade | HUANLEJIA Food vs. Heilongjiang Transport Development | HUANLEJIA Food vs. Zhangjiagang Freetrade Science |
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.
Other Complementary Tools
| Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins | |
| Premium Stories Follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency |