Correlation Between Anhui Transport and Guangzhou Ruoyuchen
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By analyzing existing cross correlation between Anhui Transport Consulting and Guangzhou Ruoyuchen Information, you can compare the effects of market volatilities on Anhui Transport and Guangzhou Ruoyuchen 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 Transport with a short position of Guangzhou Ruoyuchen. Check out your portfolio center. Please also check ongoing floating volatility patterns of Anhui Transport and Guangzhou Ruoyuchen.
Diversification Opportunities for Anhui Transport and Guangzhou Ruoyuchen
-0.55 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between Anhui and Guangzhou is -0.55. Overlapping area represents the amount of risk that can be diversified away by holding Anhui Transport Consulting and Guangzhou Ruoyuchen Informatio in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Guangzhou Ruoyuchen and Anhui Transport 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 Transport Consulting are associated (or correlated) with Guangzhou Ruoyuchen. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Guangzhou Ruoyuchen has no effect on the direction of Anhui Transport i.e., Anhui Transport and Guangzhou Ruoyuchen go up and down completely randomly.
Pair Corralation between Anhui Transport and Guangzhou Ruoyuchen
Assuming the 90 days trading horizon Anhui Transport Consulting is expected to under-perform the Guangzhou Ruoyuchen. But the stock apears to be less risky and, when comparing its historical volatility, Anhui Transport Consulting is 4.91 times less risky than Guangzhou Ruoyuchen. The stock trades about -0.06 of its potential returns per unit of risk. The Guangzhou Ruoyuchen Information is currently generating about 0.11 of returns per unit of risk over similar time horizon. If you would invest 3,437 in Guangzhou Ruoyuchen Information on August 5, 2025 and sell it today you would earn a total of 690.00 from holding Guangzhou Ruoyuchen Information or generate 20.08% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Anhui Transport Consulting vs. Guangzhou Ruoyuchen Informatio
Performance |
| Timeline |
| Anhui Transport Cons |
| Guangzhou Ruoyuchen |
Anhui Transport and Guangzhou Ruoyuchen Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Anhui Transport and Guangzhou Ruoyuchen
The main advantage of trading using opposite Anhui Transport and Guangzhou Ruoyuchen positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Anhui Transport position performs unexpectedly, Guangzhou Ruoyuchen 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 Guangzhou Ruoyuchen will offset losses from the drop in Guangzhou Ruoyuchen's long position.| Anhui Transport vs. Everdisplay Optronics Shanghai | Anhui Transport vs. Shenzhen AV Display Co | Anhui Transport vs. China Asset Management | Anhui Transport vs. State Grid InformationCommunication |
| Guangzhou Ruoyuchen vs. Ming Yang Smart | Guangzhou Ruoyuchen vs. 159681 | Guangzhou Ruoyuchen vs. 159005 | Guangzhou Ruoyuchen vs. Yes Optoelectronics Co |
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 Theme Ratings module to determine theme ratings based on digital equity recommendations. Macroaxis theme ratings are based on combination of fundamental analysis and risk-adjusted market performance.
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