Correlation Between Jiahe Foods and Anhui Deli
Specify exactly 2 symbols:
By analyzing existing cross correlation between Jiahe Foods Industry and Anhui Deli Household, you can compare the effects of market volatilities on Jiahe Foods and Anhui Deli 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 Jiahe Foods with a short position of Anhui Deli. Check out your portfolio center. Please also check ongoing floating volatility patterns of Jiahe Foods and Anhui Deli.
Diversification Opportunities for Jiahe Foods and Anhui Deli
0.43 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Jiahe and Anhui is 0.43. Overlapping area represents the amount of risk that can be diversified away by holding Jiahe Foods Industry and Anhui Deli Household in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anhui Deli Household and Jiahe Foods 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 Jiahe Foods Industry are associated (or correlated) with Anhui Deli. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anhui Deli Household has no effect on the direction of Jiahe Foods i.e., Jiahe Foods and Anhui Deli go up and down completely randomly.
Pair Corralation between Jiahe Foods and Anhui Deli
Assuming the 90 days trading horizon Jiahe Foods Industry is expected to generate 0.97 times more return on investment than Anhui Deli. However, Jiahe Foods Industry is 1.03 times less risky than Anhui Deli. It trades about 0.04 of its potential returns per unit of risk. Anhui Deli Household is currently generating about -0.05 per unit of risk. If you would invest 1,218 in Jiahe Foods Industry on November 6, 2024 and sell it today you would earn a total of 57.00 from holding Jiahe Foods Industry or generate 4.68% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Jiahe Foods Industry vs. Anhui Deli Household
Performance |
| Timeline |
| Jiahe Foods Industry |
| Anhui Deli Household |
Jiahe Foods and Anhui Deli Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Jiahe Foods and Anhui Deli
The main advantage of trading using opposite Jiahe Foods and Anhui Deli positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Jiahe Foods position performs unexpectedly, Anhui Deli 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 Anhui Deli will offset losses from the drop in Anhui Deli's long position.| Jiahe Foods vs. North Copper Shanxi | Jiahe Foods vs. Dr Peng Telecom | Jiahe Foods vs. JCHX Mining Management | Jiahe Foods vs. FSPG Hi Tech Co |
| Anhui Deli vs. Shenzhen Centralcon Investment | Anhui Deli vs. Zoje Resources Investment | Anhui Deli vs. Lianhe Chemical Technology | Anhui Deli vs. Xinxiang Chemical Fiber |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
Other Complementary Tools
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Correlation Analysis Reduce portfolio risk simply by holding instruments which are not perfectly correlated | |
| Economic Indicators Top statistical indicators that provide insights into how an economy is performing | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. |