Correlation Between Anhui Shenjian and Loop Industries
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By analyzing existing cross correlation between Anhui Shenjian New and Loop Industries, you can compare the effects of market volatilities on Anhui Shenjian and Loop Industries 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 Shenjian with a short position of Loop Industries. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Shenjian and Loop Industries.
Diversification Opportunities for Anhui Shenjian and Loop Industries
-0.04 | Correlation Coefficient |
Good diversification
The 3 months correlation between Anhui and Loop is -0.04. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Shenjian New and Loop Industries in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Loop Industries and Anhui Shenjian 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 Shenjian New are associated (or correlated) with Loop Industries. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Loop Industries has no effect on the direction of Anhui Shenjian i.e., Anhui Shenjian and Loop Industries go up and down completely randomly.
Pair Corralation between Anhui Shenjian and Loop Industries
Assuming the 90 days trading horizon Anhui Shenjian New is expected to generate 0.29 times more return on investment than Loop Industries. However, Anhui Shenjian New is 3.4 times less risky than Loop Industries. It trades about -0.05 of its potential returns per unit of risk. Loop Industries is currently generating about -0.05 per unit of risk. If you would invest 683.00 in Anhui Shenjian New on August 27, 2025 and sell it today you would lose (40.00) from holding Anhui Shenjian New or give up 5.86% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Insignificant |
| Accuracy | 92.19% |
| Values | Daily Returns |
Anhui Shenjian New vs. Loop Industries
Performance |
| Timeline |
| Anhui Shenjian New |
| Loop Industries |
Anhui Shenjian and Loop Industries Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Shenjian and Loop Industries
The main advantage of trading using opposite Anhui Shenjian and Loop Industries positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Shenjian position performs unexpectedly, Loop Industries 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 Loop Industries will offset losses from the drop in Loop Industries' long position.| Anhui Shenjian vs. Sichuan Yahua Industrial | Anhui Shenjian vs. Tibet Huayu Mining | Anhui Shenjian vs. Saurer Intelligent Technology | Anhui Shenjian vs. Dhc Software Co |
| Loop Industries vs. Perdoceo Education Corp | Loop Industries vs. TAL Education Group | Loop Industries vs. 51Talk Online Education | Loop Industries vs. National CineMedia |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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