Correlation Between Anji Foodstuff and Yunnan Jianzhijia
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By analyzing existing cross correlation between Anji Foodstuff Co and Yunnan Jianzhijia Health Chain, you can compare the effects of market volatilities on Anji Foodstuff and Yunnan Jianzhijia 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 Yunnan Jianzhijia. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anji Foodstuff and Yunnan Jianzhijia.
Diversification Opportunities for Anji Foodstuff and Yunnan Jianzhijia
0.56 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Anji and Yunnan is 0.56. Overlapping area represents the amount of risk that can be diversified away by holding Anji Foodstuff Co and Yunnan Jianzhijia Health Chain in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Yunnan Jianzhijia 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 Yunnan Jianzhijia. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Yunnan Jianzhijia has no effect on the direction of Anji Foodstuff i.e., Anji Foodstuff and Yunnan Jianzhijia go up and down completely randomly.
Pair Corralation between Anji Foodstuff and Yunnan Jianzhijia
Assuming the 90 days trading horizon Anji Foodstuff Co is expected to generate 0.95 times more return on investment than Yunnan Jianzhijia. However, Anji Foodstuff Co is 1.05 times less risky than Yunnan Jianzhijia. It trades about 0.0 of its potential returns per unit of risk. Yunnan Jianzhijia Health Chain is currently generating about -0.05 per unit of risk. If you would invest 957.00 in Anji Foodstuff Co on October 11, 2024 and sell it today you would lose (161.00) from holding Anji Foodstuff Co or give up 16.82% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anji Foodstuff Co vs. Yunnan Jianzhijia Health Chain
Performance |
| Timeline |
| Anji Foodstuff |
| Yunnan Jianzhijia |
Anji Foodstuff and Yunnan Jianzhijia Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anji Foodstuff and Yunnan Jianzhijia
The main advantage of trading using opposite Anji Foodstuff and Yunnan Jianzhijia positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anji Foodstuff position performs unexpectedly, Yunnan Jianzhijia 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 Yunnan Jianzhijia will offset losses from the drop in Yunnan Jianzhijia'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 |
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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 Investing Opportunities module to build portfolios using our predefined set of ideas and optimize them against your investing preferences.
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