Correlation Between Anhui Deli and 37 Interactive
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By analyzing existing cross correlation between Anhui Deli Household and 37 Interactive Entertainment, you can compare the effects of market volatilities on Anhui Deli and 37 Interactive 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 Anhui Deli with a short position of 37 Interactive. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Deli and 37 Interactive.
Diversification Opportunities for Anhui Deli and 37 Interactive
0.81 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between Anhui and 002555 is 0.81. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Deli Household and 37 Interactive Entertainment in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on 37 Interactive Enter and Anhui Deli 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 Anhui Deli Household are associated (or correlated) with 37 Interactive. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of 37 Interactive Enter has no effect on the direction of Anhui Deli i.e., Anhui Deli and 37 Interactive go up and down completely randomly.
Pair Corralation between Anhui Deli and 37 Interactive
Assuming the 90 days trading horizon Anhui Deli is expected to generate 1.4 times less return on investment than 37 Interactive. But when comparing it to its historical volatility, Anhui Deli Household is 1.03 times less risky than 37 Interactive. It trades about 0.08 of its potential returns per unit of risk. 37 Interactive Entertainment is currently generating about 0.12 of returns per unit of risk over similar time horizon. If you would invest 1,368 in 37 Interactive Entertainment on September 24, 2024 and sell it today you would earn a total of 302.00 from holding 37 Interactive Entertainment or generate 22.08% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Strong |
Accuracy | 100.0% |
Values | Daily Returns |
Anhui Deli Household vs. 37 Interactive Entertainment
Performance |
Timeline |
Anhui Deli Household |
37 Interactive Enter |
Anhui Deli and 37 Interactive Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Anhui Deli and 37 Interactive
The main advantage of trading using opposite Anhui Deli and 37 Interactive positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Deli position performs unexpectedly, 37 Interactive 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 37 Interactive will offset losses from the drop in 37 Interactive's long position.Anhui Deli vs. BYD Co Ltd | Anhui Deli vs. China Mobile Limited | Anhui Deli vs. Agricultural Bank of | Anhui Deli vs. Industrial and Commercial |
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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 Commodity Directory module to find actively traded commodities issued by global exchanges.
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