Correlation Between Heilongjiang Publishing and Anyang Iron
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By analyzing existing cross correlation between Heilongjiang Publishing Media and Anyang Iron Steel, you can compare the effects of market volatilities on Heilongjiang Publishing 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 Heilongjiang Publishing with a short position of Anyang Iron. Check out your portfolio center. Please also check ongoing floating volatility patterns of Heilongjiang Publishing and Anyang Iron.
Diversification Opportunities for Heilongjiang Publishing and Anyang Iron
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Heilongjiang and Anyang is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Heilongjiang Publishing Media 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 Heilongjiang Publishing 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 Heilongjiang Publishing Media 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 Heilongjiang Publishing i.e., Heilongjiang Publishing and Anyang Iron go up and down completely randomly.
Pair Corralation between Heilongjiang Publishing and Anyang Iron
Assuming the 90 days trading horizon Heilongjiang Publishing Media is expected to under-perform the Anyang Iron. But the stock apears to be less risky and, when comparing its historical volatility, Heilongjiang Publishing Media is 1.53 times less risky than Anyang Iron. The stock trades about -0.05 of its potential returns per unit of risk. The Anyang Iron Steel is currently generating about 0.04 of returns per unit of risk over similar time horizon. If you would invest 222.00 in Anyang Iron Steel on September 6, 2025 and sell it today you would earn a total of 8.00 from holding Anyang Iron Steel or generate 3.6% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Heilongjiang Publishing Media vs. Anyang Iron Steel
Performance |
| Timeline |
| Heilongjiang Publishing |
| Anyang Iron Steel |
Heilongjiang Publishing and Anyang Iron Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Heilongjiang Publishing and Anyang Iron
The main advantage of trading using opposite Heilongjiang Publishing and Anyang Iron positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Heilongjiang Publishing 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.| Heilongjiang Publishing vs. Mingchen Health Co | Heilongjiang Publishing vs. Shandong Sinoglory Health | Heilongjiang Publishing vs. Linewell Software Co | Heilongjiang Publishing vs. Shanxi Lanhua Sci Tech |
| Anyang Iron vs. BMC Medical Co | Anyang Iron vs. Shandong Intco Medical | Anyang Iron vs. Zbit Semiconductor A | Anyang Iron vs. Contec Medical Systems |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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