Correlation Between Anji Foodstuff and Duzhe Publishing
Specify exactly 2 symbols:
By analyzing existing cross correlation between Anji Foodstuff Co and Duzhe Publishing Media, you can compare the effects of market volatilities on Anji Foodstuff and Duzhe Publishing 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 Duzhe Publishing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anji Foodstuff and Duzhe Publishing.
Diversification Opportunities for Anji Foodstuff and Duzhe Publishing
0.97 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Anji and Duzhe is 0.97. Overlapping area represents the amount of risk that can be diversified away by holding Anji Foodstuff Co and Duzhe Publishing Media in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Duzhe Publishing Media 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 Duzhe Publishing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Duzhe Publishing Media has no effect on the direction of Anji Foodstuff i.e., Anji Foodstuff and Duzhe Publishing go up and down completely randomly.
Pair Corralation between Anji Foodstuff and Duzhe Publishing
Assuming the 90 days trading horizon Anji Foodstuff is expected to generate 1.02 times less return on investment than Duzhe Publishing. But when comparing it to its historical volatility, Anji Foodstuff Co is 1.11 times less risky than Duzhe Publishing. It trades about 0.21 of its potential returns per unit of risk. Duzhe Publishing Media is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest 576.00 in Duzhe Publishing Media on September 3, 2024 and sell it today you would earn a total of 54.00 from holding Duzhe Publishing Media or generate 9.38% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anji Foodstuff Co vs. Duzhe Publishing Media
Performance |
| Timeline |
| Anji Foodstuff |
| Duzhe Publishing Media |
Anji Foodstuff and Duzhe Publishing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anji Foodstuff and Duzhe Publishing
The main advantage of trading using opposite Anji Foodstuff and Duzhe Publishing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anji Foodstuff position performs unexpectedly, Duzhe Publishing 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 Duzhe Publishing will offset losses from the drop in Duzhe Publishing'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 |
| Duzhe Publishing vs. Gansu Jiu Steel | Duzhe Publishing vs. Ming Yang Smart | Duzhe Publishing vs. Aba Chemicals Corp | Duzhe Publishing vs. Loctek Ergonomic 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 Global Markets Map module to get a quick overview of global market snapshot using zoomable world map. Drill down to check world indexes.
Other Complementary Tools
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Stocks Directory Find actively traded stocks across global markets | |
| Price Exposure Probability Analyze equity upside and downside potential for a given time horizon across multiple markets | |
| Sectors List of equity sectors categorizing publicly traded companies based on their primary business activities | |
| Crypto Correlations Use cryptocurrency correlation module to diversify your cryptocurrency portfolio across multiple coins |