Correlation Between Anji Foodstuff and Shantou Wanshun
Specify exactly 2 symbols:
By analyzing existing cross correlation between Anji Foodstuff Co and Shantou Wanshun Package, you can compare the effects of market volatilities on Anji Foodstuff and Shantou Wanshun 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 Shantou Wanshun. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anji Foodstuff and Shantou Wanshun.
Diversification Opportunities for Anji Foodstuff and Shantou Wanshun
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Anji and Shantou is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Anji Foodstuff Co and Shantou Wanshun Package in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shantou Wanshun Package 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 Shantou Wanshun. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shantou Wanshun Package has no effect on the direction of Anji Foodstuff i.e., Anji Foodstuff and Shantou Wanshun go up and down completely randomly.
Pair Corralation between Anji Foodstuff and Shantou Wanshun
Assuming the 90 days trading horizon Anji Foodstuff Co is expected to generate 2.0 times more return on investment than Shantou Wanshun. However, Anji Foodstuff is 2.0 times more volatile than Shantou Wanshun Package. It trades about -0.2 of its potential returns per unit of risk. Shantou Wanshun Package is currently generating about -0.41 per unit of risk. If you would invest 987.00 in Anji Foodstuff Co on October 11, 2024 and sell it today you would lose (195.00) from holding Anji Foodstuff Co or give up 19.76% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anji Foodstuff Co vs. Shantou Wanshun Package
Performance |
| Timeline |
| Anji Foodstuff |
| Shantou Wanshun Package |
Anji Foodstuff and Shantou Wanshun Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anji Foodstuff and Shantou Wanshun
The main advantage of trading using opposite Anji Foodstuff and Shantou Wanshun positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anji Foodstuff position performs unexpectedly, Shantou Wanshun 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 Shantou Wanshun will offset losses from the drop in Shantou Wanshun's long position.| Anji Foodstuff vs. Vats Liquor Chain | Anji Foodstuff vs. Jiugui Liquor Co | Anji Foodstuff vs. Guocheng Mining Co | Anji Foodstuff vs. JCHX Mining Management |
| Shantou Wanshun vs. Guangdong Wens Foodstuff | Shantou Wanshun vs. New Hope Dairy | Shantou Wanshun vs. Anji Foodstuff Co | Shantou Wanshun vs. Beijing Sanyuan Foods |
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 Instant Ratings module to determine any equity ratings based on digital recommendations. Macroaxis instant equity ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Other Complementary Tools
| Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| ETF Categories List of ETF categories grouped based on various criteria, such as the investment strategy or type of investments | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities |