Correlation Between ANT and Guangdong TianYiMa
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By analyzing existing cross correlation between ANT and Guangdong TianYiMa Information, you can compare the effects of market volatilities on ANT and Guangdong TianYiMa 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 ANT with a short position of Guangdong TianYiMa. Check out your portfolio center. Please also check ongoing floating volatility patterns of ANT and Guangdong TianYiMa.
Diversification Opportunities for ANT and Guangdong TianYiMa
-0.18 | Correlation Coefficient |
Good diversification
The 3 months correlation between ANT and Guangdong is -0.18. Overlapping area represents the amount of risk that can be diversified away by holding ANT and Guangdong TianYiMa Information in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangdong TianYiMa and ANT 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 ANT are associated (or correlated) with Guangdong TianYiMa. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangdong TianYiMa has no effect on the direction of ANT i.e., ANT and Guangdong TianYiMa go up and down completely randomly.
Pair Corralation between ANT and Guangdong TianYiMa
Assuming the 90 days trading horizon ANT is expected to generate 6.03 times more return on investment than Guangdong TianYiMa. However, ANT is 6.03 times more volatile than Guangdong TianYiMa Information. It trades about 0.08 of its potential returns per unit of risk. Guangdong TianYiMa Information is currently generating about -0.07 per unit of risk. If you would invest 147.00 in ANT on October 30, 2024 and sell it today you would earn a total of 0.00 from holding ANT or generate 0.0% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
ANT vs. Guangdong TianYiMa Information
Performance |
| Timeline |
| ANT |
| Guangdong TianYiMa |
ANT and Guangdong TianYiMa Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ANT and Guangdong TianYiMa
The main advantage of trading using opposite ANT and Guangdong TianYiMa positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ANT position performs unexpectedly, Guangdong TianYiMa 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 Guangdong TianYiMa will offset losses from the drop in Guangdong TianYiMa's long position.The idea behind ANT and Guangdong TianYiMa Information pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.| Guangdong TianYiMa vs. Namchow Food Group | Guangdong TianYiMa vs. Youyou Foods Co | Guangdong TianYiMa vs. HaiXin Foods Co | Guangdong TianYiMa vs. CITIC Metal Co |
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 Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
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