Correlation Between Agricultural Bank and Thinkon Semiconductor
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By analyzing existing cross correlation between Agricultural Bank of and Thinkon Semiconductor Jinzhou, you can compare the effects of market volatilities on Agricultural Bank and Thinkon Semiconductor 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 Thinkon Semiconductor. Check out your portfolio center. Please also check ongoing floating volatility patterns of Agricultural Bank and Thinkon Semiconductor.
Diversification Opportunities for Agricultural Bank and Thinkon Semiconductor
-0.51 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Agricultural and Thinkon is -0.51. Overlapping area represents the amount of risk that can be diversified away by holding Agricultural Bank of and Thinkon Semiconductor Jinzhou in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Thinkon Semiconductor 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 Thinkon Semiconductor. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Thinkon Semiconductor has no effect on the direction of Agricultural Bank i.e., Agricultural Bank and Thinkon Semiconductor go up and down completely randomly.
Pair Corralation between Agricultural Bank and Thinkon Semiconductor
Assuming the 90 days trading horizon Agricultural Bank of is expected to generate 0.53 times more return on investment than Thinkon Semiconductor. However, Agricultural Bank of is 1.89 times less risky than Thinkon Semiconductor. It trades about -0.02 of its potential returns per unit of risk. Thinkon Semiconductor Jinzhou is currently generating about -0.14 per unit of risk. If you would invest 511.00 in Agricultural Bank of on October 17, 2024 and sell it today you would lose (4.00) from holding Agricultural Bank of or give up 0.78% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Agricultural Bank of vs. Thinkon Semiconductor Jinzhou
Performance |
| Timeline |
| Agricultural Bank |
| Thinkon Semiconductor |
Agricultural Bank and Thinkon Semiconductor Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Agricultural Bank and Thinkon Semiconductor
The main advantage of trading using opposite Agricultural Bank and Thinkon Semiconductor positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Agricultural Bank position performs unexpectedly, Thinkon Semiconductor 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 Thinkon Semiconductor will offset losses from the drop in Thinkon Semiconductor's long position.| Agricultural Bank vs. Zoje Resources Investment | Agricultural Bank vs. Cultural Investment Holdings | Agricultural Bank vs. Shanghai Material Trading | Agricultural Bank vs. Xiandai Investment Co |
| Thinkon Semiconductor vs. Shenzhen Noposion Agrochemicals | Thinkon Semiconductor vs. Miracll Chemicals Co | Thinkon Semiconductor vs. Shaanxi Meineng Clean | Thinkon Semiconductor vs. Dymatic Chemicals |
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 Portfolio Center module to all portfolio management and optimization tools to improve performance of your portfolios.
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