Correlation Between Qilu Bank and Anhui Deli
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By analyzing existing cross correlation between Qilu Bank Co and Anhui Deli Household, you can compare the effects of market volatilities on Qilu Bank and Anhui Deli 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 Qilu Bank with a short position of Anhui Deli. Check out your portfolio center. Please also check ongoing floating volatility patterns of Qilu Bank and Anhui Deli.
Diversification Opportunities for Qilu Bank and Anhui Deli
-0.39 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Qilu and Anhui is -0.39. Overlapping area represents the amount of risk that can be diversified away by holding Qilu Bank Co and Anhui Deli Household in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anhui Deli Household and Qilu 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 Qilu Bank Co are associated (or correlated) with Anhui Deli. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anhui Deli Household has no effect on the direction of Qilu Bank i.e., Qilu Bank and Anhui Deli go up and down completely randomly.
Pair Corralation between Qilu Bank and Anhui Deli
Assuming the 90 days trading horizon Qilu Bank is expected to generate 1.64 times less return on investment than Anhui Deli. But when comparing it to its historical volatility, Qilu Bank Co is 3.53 times less risky than Anhui Deli. It trades about 0.05 of its potential returns per unit of risk. Anhui Deli Household is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 529.00 in Anhui Deli Household on October 14, 2024 and sell it today you would earn a total of 1.00 from holding Anhui Deli Household or generate 0.19% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Qilu Bank Co vs. Anhui Deli Household
Performance |
| Timeline |
| Qilu Bank |
| Anhui Deli Household |
Qilu Bank and Anhui Deli Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Qilu Bank and Anhui Deli
The main advantage of trading using opposite Qilu Bank and Anhui Deli positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Qilu Bank position performs unexpectedly, Anhui Deli 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 Deli will offset losses from the drop in Anhui Deli's long position.| Qilu Bank vs. Fiberhome Telecommunication Technologies | Qilu Bank vs. Shantou Wanshun Package | Qilu Bank vs. Ziel Home Furnishing | Qilu Bank vs. Shandong Homey Aquatic |
| Anhui Deli vs. Jiangsu Financial Leasing | Anhui Deli vs. Jinhui Mining Co | Anhui Deli vs. Panda Financial Holding | Anhui Deli vs. Qilu Bank Co |
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 Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.
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