Correlation Between Agricultural Bank and Super-Dragon Engineering
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By analyzing existing cross correlation between Agricultural Bank of and Super Dragon Engineering Plastics, you can compare the effects of market volatilities on Agricultural Bank and Super-Dragon Engineering 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 Super-Dragon Engineering. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agricultural Bank and Super-Dragon Engineering.
Diversification Opportunities for Agricultural Bank and Super-Dragon Engineering
-0.17 | Correlation Coefficient |
Good diversification
The 3 months correlation between Agricultural and Super-Dragon is -0.17. Overlapping area represents the amount of risk that can be diversified away by holding Agricultural Bank of and Super Dragon Engineering Plast in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Super-Dragon Engineering 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 Super-Dragon Engineering. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Super-Dragon Engineering has no effect on the direction of Agricultural Bank i.e., Agricultural Bank and Super-Dragon Engineering go up and down completely randomly.
Pair Corralation between Agricultural Bank and Super-Dragon Engineering
Assuming the 90 days trading horizon Agricultural Bank is expected to generate 6.3 times less return on investment than Super-Dragon Engineering. But when comparing it to its historical volatility, Agricultural Bank of is 1.55 times less risky than Super-Dragon Engineering. It trades about 0.08 of its potential returns per unit of risk. Super Dragon Engineering Plastics is currently generating about 0.34 of returns per unit of risk over similar time horizon. If you would invest 3,124 in Super Dragon Engineering Plastics on November 5, 2024 and sell it today you would earn a total of 337.00 from holding Super Dragon Engineering Plastics or generate 10.79% 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. Super Dragon Engineering Plast
Performance |
| Timeline |
| Agricultural Bank |
| Super-Dragon Engineering |
Agricultural Bank and Super-Dragon Engineering Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Agricultural Bank and Super-Dragon Engineering
The main advantage of trading using opposite Agricultural Bank and Super-Dragon Engineering positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agricultural Bank position performs unexpectedly, Super-Dragon Engineering 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 Super-Dragon Engineering will offset losses from the drop in Super-Dragon Engineering's long position.| Agricultural Bank vs. Olympic Circuit Technology | Agricultural Bank vs. Holitech Technology Co | Agricultural Bank vs. Xiamen Bank Co | Agricultural Bank vs. Peoples Insurance of |
| Super-Dragon Engineering vs. MayAir Technology Co | Super-Dragon Engineering vs. Cabio Biotech Wuhan | Super-Dragon Engineering vs. Linktel Technologies Co | Super-Dragon Engineering vs. Air China Ltd |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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