Correlation Between APT Medical and Agricultural Bank
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By analyzing existing cross correlation between APT Medical and Agricultural Bank of, you can compare the effects of market volatilities on APT Medical 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 APT Medical with a short position of Agricultural Bank. Check out your portfolio center. Please also check ongoing floating volatility patterns of APT Medical and Agricultural Bank.
Diversification Opportunities for APT Medical and Agricultural Bank
0.22 | Correlation Coefficient |
Modest diversification
The 3 months correlation between APT and Agricultural is 0.22. Overlapping area represents the amount of risk that can be diversified away by holding APT Medical and Agricultural Bank of in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Agricultural Bank and APT Medical 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 APT Medical 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 APT Medical i.e., APT Medical and Agricultural Bank go up and down completely randomly.
Pair Corralation between APT Medical and Agricultural Bank
Assuming the 90 days trading horizon APT Medical is expected to generate 2.04 times more return on investment than Agricultural Bank. However, APT Medical is 2.04 times more volatile than Agricultural Bank of. It trades about 0.06 of its potential returns per unit of risk. Agricultural Bank of is currently generating about 0.1 per unit of risk. If you would invest 19,106 in APT Medical on September 4, 2024 and sell it today you would earn a total of 17,194 from holding APT Medical or generate 89.99% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
APT Medical vs. Agricultural Bank of
Performance |
| Timeline |
| APT Medical |
| Agricultural Bank |
APT Medical and Agricultural Bank Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with APT Medical and Agricultural Bank
The main advantage of trading using opposite APT Medical and Agricultural Bank positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if APT Medical 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.| APT Medical vs. Niutech Environment Technology | APT Medical vs. HMTNew Technical | APT Medical vs. Sinofibers Technology Co | APT Medical vs. Northking Information Technology |
| Agricultural Bank vs. Liaoning Chengda Biotechnology | Agricultural Bank vs. Harvest Fund Management | Agricultural Bank vs. Guangzhou Zhujiang Brewery | Agricultural Bank vs. CICC Fund Management |
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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
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