Correlation Between Anji Foodstuff and Cultural Investment
Specify exactly 2 symbols:
By analyzing existing cross correlation between Anji Foodstuff Co and Cultural Investment Holdings, you can compare the effects of market volatilities on Anji Foodstuff and Cultural Investment 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 Cultural Investment. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anji Foodstuff and Cultural Investment.
Diversification Opportunities for Anji Foodstuff and Cultural Investment
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Anji and Cultural is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding Anji Foodstuff Co and Cultural Investment Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Cultural Investment 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 Cultural Investment. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Cultural Investment has no effect on the direction of Anji Foodstuff i.e., Anji Foodstuff and Cultural Investment go up and down completely randomly.
Pair Corralation between Anji Foodstuff and Cultural Investment
Assuming the 90 days trading horizon Anji Foodstuff Co is expected to generate 0.85 times more return on investment than Cultural Investment. However, Anji Foodstuff Co is 1.18 times less risky than Cultural Investment. It trades about 0.2 of its potential returns per unit of risk. Cultural Investment Holdings is currently generating about 0.11 per unit of risk. If you would invest 654.00 in Anji Foodstuff Co on September 3, 2024 and sell it today you would earn a total of 214.00 from holding Anji Foodstuff Co or generate 32.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anji Foodstuff Co vs. Cultural Investment Holdings
Performance |
| Timeline |
| Anji Foodstuff |
| Cultural Investment |
Anji Foodstuff and Cultural Investment Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anji Foodstuff and Cultural Investment
The main advantage of trading using opposite Anji Foodstuff and Cultural Investment positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anji Foodstuff position performs unexpectedly, Cultural Investment 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 Cultural Investment will offset losses from the drop in Cultural Investment's long position.| Anji Foodstuff vs. Beijing Wantai Biological | Anji Foodstuff vs. Aluminum Corp of | Anji Foodstuff vs. COL Digital Publishing | Anji Foodstuff vs. Shaanxi Meineng Clean |
| Cultural Investment vs. Anji Foodstuff Co | Cultural Investment vs. Shenzhen Clou Electronics | Cultural Investment vs. Muyuan Foodstuff Co | Cultural Investment vs. Leyard Optoelectronic |
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 Rebalancing module to analyze risk-adjusted returns against different time horizons to find asset-allocation targets.
Other Complementary Tools
| My Watchlist Analysis Analyze my current watchlist and to refresh optimization strategy. Macroaxis watchlist is based on self-learning algorithm to remember stocks you like | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Piotroski F Score Get Piotroski F Score based on the binary analysis strategy of nine different fundamentals | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings |