Correlation Between HLNLN and ANTA Sports
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By analyzing existing cross correlation between HLNLN 3375 24 MAR 27 and ANTA Sports Products, you can compare the effects of market volatilities on HLNLN 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 HLNLN with a short position of ANTA Sports. Check out your portfolio center. Please also check ongoing floating volatility patterns of HLNLN and ANTA Sports.
Diversification Opportunities for HLNLN and ANTA Sports
0.49 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between HLNLN and ANTA is 0.49. Overlapping area represents the amount of risk that can be diversified away by holding HLNLN 3375 24 MAR 27 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 HLNLN 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 HLNLN 3375 24 MAR 27 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 HLNLN i.e., HLNLN and ANTA Sports go up and down completely randomly.
Pair Corralation between HLNLN and ANTA Sports
Assuming the 90 days trading horizon HLNLN 3375 24 MAR 27 is expected to under-perform the ANTA Sports. But the bond apears to be less risky and, when comparing its historical volatility, HLNLN 3375 24 MAR 27 is 10.5 times less risky than ANTA Sports. The bond trades about -0.02 of its potential returns per unit of risk. The ANTA Sports Products is currently generating about 0.2 of returns per unit of risk over similar time horizon. If you would invest 24,387 in ANTA Sports Products on December 3, 2024 and sell it today you would earn a total of 3,786 from holding ANTA Sports Products or generate 15.52% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 87.5% |
| Values | Daily Returns |
HLNLN 3375 24 MAR 27 vs. ANTA Sports Products
Performance |
| Timeline |
| HLNLN 3375 24 |
| ANTA Sports Products |
HLNLN and ANTA Sports Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with HLNLN and ANTA Sports
The main advantage of trading using opposite HLNLN and ANTA Sports positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if HLNLN 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.| HLNLN vs. Guangzhou Automobile Group | ||
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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 Pattern Recognition module to use different Pattern Recognition models to time the market across multiple global exchanges.
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