Correlation Between ANT and Guangzhou Fangbang
Specify exactly 2 symbols:
By analyzing existing cross correlation between ANT and Guangzhou Fangbang Electronics, you can compare the effects of market volatilities on ANT and Guangzhou Fangbang 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 Guangzhou Fangbang. Check out your portfolio center. Please also check ongoing floating volatility patterns of ANT and Guangzhou Fangbang.
Diversification Opportunities for ANT and Guangzhou Fangbang
0.15 | Correlation Coefficient |
Average diversification
The 3 months correlation between ANT and Guangzhou is 0.15. Overlapping area represents the amount of risk that can be diversified away by holding ANT and Guangzhou Fangbang Electronics in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangzhou Fangbang 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 Guangzhou Fangbang. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangzhou Fangbang has no effect on the direction of ANT i.e., ANT and Guangzhou Fangbang go up and down completely randomly.
Pair Corralation between ANT and Guangzhou Fangbang
Assuming the 90 days trading horizon ANT is expected to generate 13.92 times more return on investment than Guangzhou Fangbang. However, ANT is 13.92 times more volatile than Guangzhou Fangbang Electronics. It trades about 0.1 of its potential returns per unit of risk. Guangzhou Fangbang Electronics is currently generating about 0.0 per unit of risk. If you would invest 300.00 in ANT on October 16, 2024 and sell it today you would lose (153.00) from holding ANT or give up 51.0% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 62.13% |
| Values | Daily Returns |
ANT vs. Guangzhou Fangbang Electronics
Performance |
| Timeline |
| ANT |
| Guangzhou Fangbang |
ANT and Guangzhou Fangbang Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ANT and Guangzhou Fangbang
The main advantage of trading using opposite ANT and Guangzhou Fangbang positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ANT position performs unexpectedly, Guangzhou Fangbang 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 Guangzhou Fangbang will offset losses from the drop in Guangzhou Fangbang's long position.The idea behind ANT and Guangzhou Fangbang Electronics 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.| Guangzhou Fangbang vs. Universal Scientific Industrial | Guangzhou Fangbang vs. Jiaozuo Wanfang Aluminum | Guangzhou Fangbang vs. Porton Fine Chemicals | Guangzhou Fangbang vs. Shanghai Yanpu Metal |
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 Commodity Directory module to find actively traded commodities issued by global exchanges.
Other Complementary Tools
| Theme Ratings Determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
| Equity Valuation Check real value of public entities based on technical and fundamental data | |
| Pattern Recognition Use different Pattern Recognition models to time the market across multiple global exchanges | |
| Portfolio Volatility Check portfolio volatility and analyze historical return density to properly model market risk | |
| Content Syndication Quickly integrate customizable finance content to your own investment portal |