Correlation Between Fujian Anjoy and Markor International
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By analyzing existing cross correlation between Fujian Anjoy Foods and Markor International Home, you can compare the effects of market volatilities on Fujian Anjoy 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 Fujian Anjoy with a short position of Markor International. Check out your portfolio center. Please also check ongoing floating volatility patterns of Fujian Anjoy and Markor International.
Diversification Opportunities for Fujian Anjoy and Markor International
0.62 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Fujian and Markor is 0.62. Overlapping area represents the amount of risk that can be diversified away by holding Fujian Anjoy Foods 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 Fujian Anjoy 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 Fujian Anjoy Foods 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 Fujian Anjoy i.e., Fujian Anjoy and Markor International go up and down completely randomly.
Pair Corralation between Fujian Anjoy and Markor International
Assuming the 90 days trading horizon Fujian Anjoy Foods is expected to generate 0.52 times more return on investment than Markor International. However, Fujian Anjoy Foods is 1.91 times less risky than Markor International. It trades about -0.25 of its potential returns per unit of risk. Markor International Home is currently generating about -0.29 per unit of risk. If you would invest 8,185 in Fujian Anjoy Foods on October 28, 2024 and sell it today you would lose (609.00) from holding Fujian Anjoy Foods or give up 7.44% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Fujian Anjoy Foods vs. Markor International Home
Performance |
| Timeline |
| Fujian Anjoy Foods |
| Markor International Home |
Fujian Anjoy and Markor International Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Fujian Anjoy and Markor International
The main advantage of trading using opposite Fujian Anjoy and Markor International positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Fujian Anjoy 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.| Fujian Anjoy vs. Kweichow Moutai Co | Fujian Anjoy vs. Contemporary Amperex Technology | Fujian Anjoy vs. G bits Network Technology | Fujian Anjoy vs. Beijing Roborock Technology |
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 CEOs Directory module to screen CEOs from public companies around the world.
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