Correlation Between Anji Foodstuff and Telling Telecommunicatio
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By analyzing existing cross correlation between Anji Foodstuff Co and Telling Telecommunication Holding, you can compare the effects of market volatilities on Anji Foodstuff and Telling Telecommunicatio 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 Anji Foodstuff with a short position of Telling Telecommunicatio. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anji Foodstuff and Telling Telecommunicatio.
Diversification Opportunities for Anji Foodstuff and Telling Telecommunicatio
0.14 | Correlation Coefficient |
Average diversification
The 3 months correlation between Anji and Telling is 0.14. Overlapping area represents the amount of risk that can be diversified away by holding Anji Foodstuff Co and Telling Telecommunication Hold in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Telling Telecommunicatio and Anji Foodstuff 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 Anji Foodstuff Co are associated (or correlated) with Telling Telecommunicatio. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Telling Telecommunicatio has no effect on the direction of Anji Foodstuff i.e., Anji Foodstuff and Telling Telecommunicatio go up and down completely randomly.
Pair Corralation between Anji Foodstuff and Telling Telecommunicatio
Assuming the 90 days trading horizon Anji Foodstuff Co is expected to generate 0.84 times more return on investment than Telling Telecommunicatio. However, Anji Foodstuff Co is 1.2 times less risky than Telling Telecommunicatio. It trades about 0.11 of its potential returns per unit of risk. Telling Telecommunication Holding is currently generating about -0.11 per unit of risk. If you would invest 782.00 in Anji Foodstuff Co on November 8, 2024 and sell it today you would earn a total of 25.00 from holding Anji Foodstuff Co or generate 3.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anji Foodstuff Co vs. Telling Telecommunication Hold
Performance |
| Timeline |
| Anji Foodstuff |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| Telling Telecommunicatio |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
Anji Foodstuff and Telling Telecommunicatio Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anji Foodstuff and Telling Telecommunicatio
The main advantage of trading using opposite Anji Foodstuff and Telling Telecommunicatio positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anji Foodstuff position performs unexpectedly, Telling Telecommunicatio 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 Telling Telecommunicatio will offset losses from the drop in Telling Telecommunicatio's long position.The idea behind Anji Foodstuff Co and Telling Telecommunication Holding pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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