Correlation Between Walker Dunlop and Anyang Iron
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By analyzing existing cross correlation between Walker Dunlop and Anyang Iron Steel, you can compare the effects of market volatilities on Walker Dunlop and Anyang Iron 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 Anyang Iron. Check out your portfolio center. Please also check ongoing floating volatility patterns of Walker Dunlop and Anyang Iron.
Diversification Opportunities for Walker Dunlop and Anyang Iron
0.2 | Correlation Coefficient |
Modest diversification
The 3 months correlation between Walker and Anyang is 0.2. Overlapping area represents the amount of risk that can be diversified away by holding Walker Dunlop and Anyang Iron Steel in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Anyang Iron Steel 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 Anyang Iron. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Anyang Iron Steel has no effect on the direction of Walker Dunlop i.e., Walker Dunlop and Anyang Iron go up and down completely randomly.
Pair Corralation between Walker Dunlop and Anyang Iron
Allowing for the 90-day total investment horizon Walker Dunlop is expected to generate 0.83 times more return on investment than Anyang Iron. However, Walker Dunlop is 1.21 times less risky than Anyang Iron. It trades about 0.11 of its potential returns per unit of risk. Anyang Iron Steel is currently generating about -0.24 per unit of risk. If you would invest 10,674 in Walker Dunlop on September 3, 2024 and sell it today you would earn a total of 344.00 from holding Walker Dunlop or generate 3.22% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
Walker Dunlop vs. Anyang Iron Steel
Performance |
| Timeline |
| Walker Dunlop |
| Anyang Iron Steel |
Walker Dunlop and Anyang Iron Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Walker Dunlop and Anyang Iron
The main advantage of trading using opposite Walker Dunlop and Anyang Iron positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Walker Dunlop position performs unexpectedly, Anyang Iron 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 Anyang Iron will offset losses from the drop in Anyang Iron'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 |
| Anyang Iron vs. ChengDu Hi Tech Development | Anyang Iron vs. Chahua Modern Housewares | Anyang Iron vs. Jiangxi Hengda Hi Tech | Anyang Iron vs. Jonjee Hi tech Industrial |
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 Options Analysis module to analyze and evaluate options and option chains as a potential hedge for your portfolios.
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