Correlation Between Anji Foodstuff and China Life
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By analyzing existing cross correlation between Anji Foodstuff Co and China Life Insurance, you can compare the effects of market volatilities on Anji Foodstuff and China Life 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 China Life. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anji Foodstuff and China Life.
Diversification Opportunities for Anji Foodstuff and China Life
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Anji and China is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Anji Foodstuff Co and China Life Insurance in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on China Life Insurance 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 China Life. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of China Life Insurance has no effect on the direction of Anji Foodstuff i.e., Anji Foodstuff and China Life go up and down completely randomly.
Pair Corralation between Anji Foodstuff and China Life
Assuming the 90 days trading horizon Anji Foodstuff Co is expected to generate 1.44 times more return on investment than China Life. However, Anji Foodstuff is 1.44 times more volatile than China Life Insurance. It trades about 0.03 of its potential returns per unit of risk. China Life Insurance is currently generating about -0.09 per unit of risk. If you would invest 742.00 in Anji Foodstuff Co on October 14, 2024 and sell it today you would earn a total of 23.00 from holding Anji Foodstuff Co or generate 3.1% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anji Foodstuff Co vs. China Life Insurance
Performance |
| Timeline |
| Anji Foodstuff |
| China Life Insurance |
Anji Foodstuff and China Life Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anji Foodstuff and China Life
The main advantage of trading using opposite Anji Foodstuff and China Life positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anji Foodstuff position performs unexpectedly, China Life 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 China Life will offset losses from the drop in China Life's long position.| Anji Foodstuff vs. Fiberhome Telecommunication Technologies | Anji Foodstuff vs. Hunan TV Broadcast | Anji Foodstuff vs. Huizhou Speed Wireless | Anji Foodstuff vs. Guangxi Wuzhou Communications |
| China Life vs. State Grid InformationCommunication | China Life vs. Bank of Communications | China Life vs. Anji Foodstuff Co | China Life vs. Wintao Communications 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 Crypto Correlations module to use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins.
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