Correlation Between AnShan Heavy and Xylem
Specify exactly 2 symbols:
By analyzing existing cross correlation between AnShan Heavy Duty and Xylem Inc, you can compare the effects of market volatilities on AnShan Heavy and Xylem 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 AnShan Heavy with a short position of Xylem. Check out your portfolio center. Please also check ongoing floating volatility patterns of AnShan Heavy and Xylem.
Diversification Opportunities for AnShan Heavy and Xylem
-0.64 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between AnShan and Xylem is -0.64. Overlapping area represents the amount of risk that can be diversified away by holding AnShan Heavy Duty and Xylem Inc in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Xylem Inc and AnShan Heavy 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 AnShan Heavy Duty are associated (or correlated) with Xylem. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Xylem Inc has no effect on the direction of AnShan Heavy i.e., AnShan Heavy and Xylem go up and down completely randomly.
Pair Corralation between AnShan Heavy and Xylem
Assuming the 90 days trading horizon AnShan Heavy Duty is expected to generate 4.09 times more return on investment than Xylem. However, AnShan Heavy is 4.09 times more volatile than Xylem Inc. It trades about 0.12 of its potential returns per unit of risk. Xylem Inc is currently generating about -0.38 per unit of risk. If you would invest 1,384 in AnShan Heavy Duty on September 10, 2025 and sell it today you would earn a total of 121.00 from holding AnShan Heavy Duty or generate 8.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Weak |
| Accuracy | 95.24% |
| Values | Daily Returns |
AnShan Heavy Duty vs. Xylem Inc
Performance |
| Timeline |
| AnShan Heavy Duty |
| Xylem Inc |
AnShan Heavy and Xylem Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with AnShan Heavy and Xylem
The main advantage of trading using opposite AnShan Heavy and Xylem positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if AnShan Heavy position performs unexpectedly, Xylem 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 Xylem will offset losses from the drop in Xylem's long position.| AnShan Heavy vs. Industrial and Commercial | AnShan Heavy vs. PetroChina Co Ltd | AnShan Heavy vs. Postal Savings Bank | AnShan Heavy vs. Ping An Insurance |
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 Money Managers module to screen money managers from public funds and ETFs managed around the world.
Other Complementary Tools
| Portfolio Center All portfolio management and optimization tools to improve performance of your portfolios | |
| Portfolio Backtesting Avoid under-diversification and over-optimization by backtesting your portfolios | |
| Portfolio Comparator Compare the composition, asset allocations and performance of any two portfolios in your account | |
| Bond Analysis Evaluate and analyze corporate bonds as a potential investment for your portfolios. | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities |