Correlation Between MHP Hotel and ANTA Sports
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By analyzing existing cross correlation between MHP Hotel AG and ANTA Sports Products, you can compare the effects of market volatilities on MHP Hotel and ANTA Sports 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 MHP Hotel with a short position of ANTA Sports. Check out your portfolio center. Please also check ongoing floating volatility patterns of MHP Hotel and ANTA Sports.
Diversification Opportunities for MHP Hotel and ANTA Sports
-0.05 | Correlation Coefficient |
Good diversification
The 3 months correlation between MHP and ANTA is -0.05. Overlapping area represents the amount of risk that can be diversified away by holding MHP Hotel AG and ANTA Sports Products in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ANTA Sports Products and MHP Hotel 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 MHP Hotel AG are associated (or correlated) with ANTA Sports. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ANTA Sports Products has no effect on the direction of MHP Hotel i.e., MHP Hotel and ANTA Sports go up and down completely randomly.
Pair Corralation between MHP Hotel and ANTA Sports
Assuming the 90 days trading horizon MHP Hotel is expected to generate 1.22 times less return on investment than ANTA Sports. But when comparing it to its historical volatility, MHP Hotel AG is 1.11 times less risky than ANTA Sports. It trades about 0.01 of its potential returns per unit of risk. ANTA Sports Products is currently generating about 0.02 of returns per unit of risk over similar time horizon. If you would invest 928.00 in ANTA Sports Products on October 14, 2024 and sell it today you would earn a total of 36.00 from holding ANTA Sports Products or generate 3.88% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
MHP Hotel AG vs. ANTA Sports Products
Performance |
| Timeline |
| MHP Hotel AG |
| ANTA Sports Products |
MHP Hotel and ANTA Sports Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with MHP Hotel and ANTA Sports
The main advantage of trading using opposite MHP Hotel and ANTA Sports positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if MHP Hotel position performs unexpectedly, ANTA Sports 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 ANTA Sports will offset losses from the drop in ANTA Sports' long position.| MHP Hotel vs. Suntory Beverage Food | MHP Hotel vs. OPKO HEALTH | MHP Hotel vs. BOSTON BEER A | MHP Hotel vs. Fevertree Drinks PLC |
| ANTA Sports vs. MHP Hotel AG | ANTA Sports vs. ASPEN TECHINC DL | ANTA Sports vs. Meli Hotels International | ANTA Sports vs. NH HOTEL GROUP |
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 Bond Analysis module to evaluate and analyze corporate bonds as a potential investment for your portfolios..
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