Correlation Between Agricultural Bank and Markor International
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By analyzing existing cross correlation between Agricultural Bank of and Markor International Home, you can compare the effects of market volatilities on Agricultural Bank and Markor International 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 Markor International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agricultural Bank and Markor International.
Diversification Opportunities for Agricultural Bank and Markor International
0.54 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Agricultural and Markor is 0.54. Overlapping area represents the amount of risk that can be diversified away by holding Agricultural Bank of and Markor International Home in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Markor International Home 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 Markor International. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Markor International Home has no effect on the direction of Agricultural Bank i.e., Agricultural Bank and Markor International go up and down completely randomly.
Pair Corralation between Agricultural Bank and Markor International
Assuming the 90 days trading horizon Agricultural Bank of is expected to generate 0.47 times more return on investment than Markor International. However, Agricultural Bank of is 2.13 times less risky than Markor International. It trades about 0.11 of its potential returns per unit of risk. Markor International Home is currently generating about 0.0 per unit of risk. If you would invest 268.00 in Agricultural Bank of on September 12, 2024 and sell it today you would earn a total of 237.00 from holding Agricultural Bank of or generate 88.43% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Agricultural Bank of vs. Markor International Home
Performance |
| Timeline |
| Agricultural Bank |
| Markor International Home |
Agricultural Bank and Markor International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Agricultural Bank and Markor International
The main advantage of trading using opposite Agricultural Bank and Markor International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agricultural Bank position performs unexpectedly, Markor International 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 Markor International will offset losses from the drop in Markor International's long position.| Agricultural Bank vs. China Petroleum Chemical | Agricultural Bank vs. PetroChina Co Ltd | Agricultural Bank vs. China Mobile Limited | Agricultural Bank vs. Industrial and Commercial |
| Markor International vs. Lutian Machinery Co | Markor International vs. PetroChina Co Ltd | Markor International vs. Bank of China | Markor International vs. Gansu Jiu Steel |
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 Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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