Correlation Between Anji Foodstuff and Shanghai Action
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By analyzing existing cross correlation between Anji Foodstuff Co and Shanghai Action Education, you can compare the effects of market volatilities on Anji Foodstuff and Shanghai Action 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 Shanghai Action. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anji Foodstuff and Shanghai Action.
Diversification Opportunities for Anji Foodstuff and Shanghai Action
0.42 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Anji and Shanghai is 0.42. Overlapping area represents the amount of risk that can be diversified away by holding Anji Foodstuff Co and Shanghai Action Education in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Shanghai Action Education 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 Shanghai Action. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Shanghai Action Education has no effect on the direction of Anji Foodstuff i.e., Anji Foodstuff and Shanghai Action go up and down completely randomly.
Pair Corralation between Anji Foodstuff and Shanghai Action
Assuming the 90 days trading horizon Anji Foodstuff Co is expected to generate 1.09 times more return on investment than Shanghai Action. However, Anji Foodstuff is 1.09 times more volatile than Shanghai Action Education. It trades about 0.37 of its potential returns per unit of risk. Shanghai Action Education is currently generating about 0.07 per unit of risk. If you would invest 819.00 in Anji Foodstuff Co on September 13, 2024 and sell it today you would earn a total of 227.00 from holding Anji Foodstuff Co or generate 27.72% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anji Foodstuff Co vs. Shanghai Action Education
Performance |
| Timeline |
| Anji Foodstuff |
| Shanghai Action Education |
Anji Foodstuff and Shanghai Action Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anji Foodstuff and Shanghai Action
The main advantage of trading using opposite Anji Foodstuff and Shanghai Action positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anji Foodstuff position performs unexpectedly, Shanghai Action 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 Shanghai Action will offset losses from the drop in Shanghai Action's long position.| Anji Foodstuff vs. Jiugui Liquor Co | Anji Foodstuff vs. China Aluminum International | Anji Foodstuff vs. Guangdong Jingyi Metal | Anji Foodstuff vs. Tianshan Aluminum Group |
| Shanghai Action vs. SUNSEA Telecommunications Co | Shanghai Action vs. Xinjiang Communications Construction | Shanghai Action vs. Anji Foodstuff Co | Shanghai Action vs. Shanghai Ziyan 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.
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