Correlation Between Bangyan Technology and Agricultural Bank
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By analyzing existing cross correlation between Bangyan Technology Co and Agricultural Bank of, you can compare the effects of market volatilities on Bangyan Technology and Agricultural Bank 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 Bangyan Technology with a short position of Agricultural Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of Bangyan Technology and Agricultural Bank.
Diversification Opportunities for Bangyan Technology and Agricultural Bank
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Bangyan and Agricultural is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding Bangyan Technology Co and Agricultural Bank of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agricultural Bank and Bangyan Technology 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 Bangyan Technology Co are associated (or correlated) with Agricultural Bank. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Agricultural Bank has no effect on the direction of Bangyan Technology i.e., Bangyan Technology and Agricultural Bank go up and down completely randomly.
Pair Corralation between Bangyan Technology and Agricultural Bank
Assuming the 90 days trading horizon Bangyan Technology Co is expected to under-perform the Agricultural Bank. In addition to that, Bangyan Technology is 1.92 times more volatile than Agricultural Bank of. It trades about -0.11 of its total potential returns per unit of risk. Agricultural Bank of is currently generating about -0.22 per unit of volatility. If you would invest 525.00 in Agricultural Bank of on October 25, 2024 and sell it today you would lose (32.00) from holding Agricultural Bank of or give up 6.1% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Bangyan Technology Co vs. Agricultural Bank of
Performance |
| Timeline |
| Bangyan Technology |
| Agricultural Bank |
Bangyan Technology and Agricultural Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Bangyan Technology and Agricultural Bank
The main advantage of trading using opposite Bangyan Technology and Agricultural Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Bangyan Technology position performs unexpectedly, Agricultural Bank 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 Agricultural Bank will offset losses from the drop in Agricultural Bank's long position.| Bangyan Technology vs. Kweichow Moutai Co | Bangyan Technology vs. NAURA Technology Group | Bangyan Technology vs. APT Medical | Bangyan Technology vs. BYD Co Ltd |
| Agricultural Bank vs. Bank of China | Agricultural Bank vs. Kweichow Moutai Co | Agricultural Bank vs. PetroChina Co Ltd | Agricultural Bank vs. Bank of Communications |
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 Price Exposure Probability module to analyze equity upside and downside potential for a given time horizon across multiple markets.
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