Correlation Between Walker Dunlop and Anhui Gujing
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By analyzing existing cross correlation between Walker Dunlop and Anhui Gujing Distillery, you can compare the effects of market volatilities on Walker Dunlop and Anhui Gujing 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 Walker Dunlop with a short position of Anhui Gujing. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Anhui Gujing.
Diversification Opportunities for Walker Dunlop and Anhui Gujing
0.05 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Walker and Anhui is 0.05. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Anhui Gujing Distillery in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anhui Gujing Distillery and Walker Dunlop 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 Walker Dunlop are associated (or correlated) with Anhui Gujing. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anhui Gujing Distillery has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Anhui Gujing go up and down completely randomly.
Pair Corralation between Walker Dunlop and Anhui Gujing
Allowing for the 90-day total investment horizon Walker Dunlop is expected to under-perform the Anhui Gujing. But the stock apears to be less risky and, when comparing its historical volatility, Walker Dunlop is 2.4 times less risky than Anhui Gujing. The stock trades about 0.0 of its potential returns per unit of risk. The Anhui Gujing Distillery is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 18,456 in Anhui Gujing Distillery on August 28, 2024 and sell it today you would earn a total of 524.00 from holding Anhui Gujing Distillery or generate 2.84% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 88.37% |
| Values | Daily Returns |
Walker Dunlop vs. Anhui Gujing Distillery
Performance |
| Timeline |
| Walker Dunlop |
| Anhui Gujing Distillery |
Walker Dunlop and Anhui Gujing Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Anhui Gujing
The main advantage of trading using opposite Walker Dunlop and Anhui Gujing positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Anhui Gujing 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 Anhui Gujing will offset losses from the drop in Anhui Gujing's long position.| Walker Dunlop vs. Mr Cooper Group | Walker Dunlop vs. Velocity Financial Llc | Walker Dunlop vs. Security National Financial | Walker Dunlop vs. Encore Capital Group |
| Anhui Gujing vs. BYD Co Ltd | Anhui Gujing vs. China Mobile Limited | Anhui Gujing vs. Agricultural Bank of | Anhui Gujing vs. Industrial and Commercial |
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 Channel module to use Commodity Channel Index to analyze current equity momentum.
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