Correlation Between APT Medical and Anji Foodstuff
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By analyzing existing cross correlation between APT Medical and Anji Foodstuff Co, you can compare the effects of market volatilities on APT Medical and Anji Foodstuff 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 Anji Foodstuff. Check out your portfolio center. Please also check ongoing floating volatility patterns of APT Medical and Anji Foodstuff.
Diversification Opportunities for APT Medical and Anji Foodstuff
0.17 | Correlation Coefficient |
Average diversification
The 3 months correlation between APT and Anji is 0.17. Overlapping area represents the amount of risk that can be diversified away by holding APT Medical and Anji Foodstuff Co in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anji Foodstuff 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 Anji Foodstuff. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anji Foodstuff has no effect on the direction of APT Medical i.e., APT Medical and Anji Foodstuff go up and down completely randomly.
Pair Corralation between APT Medical and Anji Foodstuff
Assuming the 90 days trading horizon APT Medical is expected to generate 1.92 times less return on investment than Anji Foodstuff. In addition to that, APT Medical is 1.03 times more volatile than Anji Foodstuff Co. It trades about 0.04 of its total potential returns per unit of risk. Anji Foodstuff Co is currently generating about 0.08 per unit of volatility. If you would invest 654.00 in Anji Foodstuff Co on November 2, 2024 and sell it today you would earn a total of 154.00 from holding Anji Foodstuff Co or generate 23.55% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
APT Medical vs. Anji Foodstuff Co
Performance |
| Timeline |
| APT Medical |
| Anji Foodstuff |
APT Medical and Anji Foodstuff Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with APT Medical and Anji Foodstuff
The main advantage of trading using opposite APT Medical and Anji Foodstuff positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if APT Medical position performs unexpectedly, Anji Foodstuff 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 Anji Foodstuff will offset losses from the drop in Anji Foodstuff's long position.| APT Medical vs. Ningbo Fujia Industrial | APT Medical vs. Pengxin International Mining | APT Medical vs. XiAn Dagang Road | APT Medical vs. Shenzhen Shenbao Industrial |
| Anji Foodstuff vs. Kweichow Moutai Co | Anji Foodstuff vs. Contemporary Amperex Technology | Anji Foodstuff vs. G bits Network Technology | Anji Foodstuff vs. Beijing Roborock Technology |
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 Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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